Molson Coors
The Denver-based brewer said Wednesday its net income increased by 9 percent in its third quarter on higher prices and cost-cutting, even though it sold less beer. Results beat analysts’ estimates.
Molson Coors has been raising prices in the downturn to protect its brands from being seen as too cheap and protect profit margins, even if the amount of beer sold suffers as a result.
The brewer said its net income was $256.1 million, or $1.37 per share, for the quarter ended Sept. 25, up from $235.3 million, or $1.26 per share, a year ago. Revenue excluding excise taxes rose 2.5 percent to $875 million. But beer sales volume fell 4 percent.
Anheuser-Busch
A 7.2 percent decline in third-quarter net profit comes after selling several businesses to pay off debt last year.
The producer of Budweiser, Stella Artois and Beck’s said net profit fell to $1.43 billion from $1.55 billion a year earlier. Sales declined to $9.32 billion from $9.76 billion.
News Corp.
The media giant is benefiting from political-ad spending and a hard-nosed bargaining strategy with pay-TV operators, as gains in its TV and cable segments helped net income grow in the latest quarter.
News Corp. said Wednesday that net income in the fiscal first quarter, which ended Sept. 30, rose 36 percent to $775 million, or 30 cents per share, from $571 million, or 22 cents per share, a year ago. Revenue grew 3 percent to $7.43 billion.
TW Telecom
The Douglas County-based provider of voice, Internet and data-networking solutions posted third-quarter net income of $16.1 million, or 11 cents per share, compared with income of $7.7 million, or 6 cents per share, for the same period last year. Revenue rose to $320.3 million from $304.8 million last year.
