Investing.com - Ambev SA reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Ambev SA announced earnings per share of 0.19 on revenue of 17.99B. Analysts polled by Investing.com anticipated EPS of 0.0254 on revenue of 3.28B.
Ambev SA shares are down 28.74% from the beginning of the year, still down 17.13% from its 52 week high of 3.38 set on July 29, 2021. They are under-performing the EUR/USD which is down 0% from the start of the year.
Ambev SA shares lost 0.88% in intra-day trade following the report.
Ambev SA follows other major Consumer Staples sector earnings this month
Ambev SA's report follows an earnings beat by Coca-Cola on Tuesday, who reported EPS of 0.7 on revenue of 11.33B, compared to forecasts EPS of 0.6693 on revenue of 10.54B.
PepsiCo had beat expectations on July 12 with second quarter EPS of 1.86 on revenue of 20.23B, compared to forecast for EPS of 1.74 on revenue of 19.51B.
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