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Molson Coors Brewing Company Q2 Profit Drops, Inline With Estimates

Molson Coors Brewing Company (TAP-A) released earnings for second quarter that decreased from last year in line with the Street estimates.

The company's earnings totaled $47.3 million, or $0.22 per share. This compares with $388.6 million, or $1.79 per share, in last year's second quarter.

Excluding items, Molson Coors Brewing Company reported adjusted earnings of $260.1 million or $1.19 per share for the period.

Analysts on average had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.7% to $2.92 billion from $2.94 billion last year.

Molson Coors Brewing Company earnings at a glance (GAAP) :

-Earnings (Q2): $47.3 Mln. vs. $388.6 Mln. last year.
-EPS (Q2): $0.22 vs. $1.79 last year.
-Analyst Estimates: $1.19
-Revenue (Q2): $2.92 Bln vs. $2.94 Bln last year.

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