Corona, Modelo Especial Drinkers Boost Constellation Brands' Profit

Shares of Constellation Brands are climbing on Wednesday after the wine and spirits company reported fiscal fourth quarter profit that beat expectations as beer sales took off. Excluding items, the company earned $0.81 a share, beating analyst expectations of $0.76, according to Thomson Reuters. Net sales in Constellation's beer segment jumped 13% during the quarter, fueled in part by consumer demand. The report follows its $5.3 billion acquisition Grupo Modelo's U.S. beer business last year.

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