By Stephen Nakrosis
The American depository receipts of Ambev SA advanced on the New York Stock Exchange on Thursday after the Brazilian beverage company reported higher revenue and earnings per share for the first quarter.
At 1:01 p.m. ET, the ADRs climbed 9.68% to $3.06. Volume topped 46.7 million ADRs, above the 65-day average of 20.7 million.
On Thursday, Ambev reported earnings per share of BRL0.17 on revenue of BRL16.63 billion ($3.1 billion). In the year-ago period, the company reported EPS of BRL0.07 on revenue of BRL12.6 billion.
The company, which sells its products in Brazil, Argentina, Canada, Panama and other countries, said: "Most countries showed sustained volume growth, whereby eight of our top 10 markets delivered volume growth year over year and seven markets have already reached higher volumes compared to 2019."
--Write to Stephen Nakrosis at firstname.lastname@example.org
(END) Dow Jones Newswires