Constellation Brands' profit jumps in 2Q

The maker of Robert Mondavi wine and Svedka vodka says its second-quarter profit jumped 78 percent on lower costs and improved wine and spirits sales in North America.

Constellation Brands Inc.'s earnings beat Wall Street estimates. Its shares rose 4 percent to $19.49 in premarket trading.

The Victor, New York-based company reported net income climbed to $162.7 million, or 76 cents per share, in the June-to-August quarter. That's up from $91.3 million, or 43 cents, a year earlier.

Excluding one-time items, the company earned 77 cents per share. Wall Street expected 65 cents per share.

Read Full Article from Wall Street Journal

- Posted: 2011-10-06 10:56:22

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