AmBev Posts Rise In Q1 Profit

Companhia de Bebidas das Americas ABV reported an increase in its first-quarter net profit. AmBev's quarterly profit climbed to 2.35 billion Brazilian reais ($1.24 billion), from BRL2.09 billion, in the year-ago period. Its earnings per share rose to BRL0.75, from BRL0.67. AmBev's net revenue surged to BRL7.23 billion from BRL6.56 billion. Its earnings before interest, taxes, depreciation and amortization (EBITDA) climbed to BRL3.4 billion from BRL3.1 billion. AmBev shares closed at $43.39 on Friday.