DENVER (AP) _ Molson Coors Brewing Co. (TAP) on Wednesday reported second-quarter profit of $323.3 million.
On a per-share basis, the Denver-based company said it had profit of $1.49. Earnings, adjusted for one-time gains and costs, were $1.66 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.
The beer maker posted revenue of $3.79 billion in the period. Its adjusted revenue was $3.09 billion.
Molson Coors shares have fallen slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. The stock has declined 12 percent in the last 12 months.
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