UPDATE: Brown-Forman Posts 10% Surge In Q2 Profit, Raises 2013 Forecast

Brown-Forman BF reported a 10% rise in its second-quarter profit. Brown-Forman's quarterly profit surged to $173 million, or $0.80 per share, versus $157.6 million, or $0.73 per share, in the year-earlier period. Its net sales came in flat at $1 billion. However, analysts were expecting earnings of $0.78 per share. Brown-Forman projects 2013 profit of $2.58 to $2.70 per share, versus its prior forecast of $2.40 to $2.67 per share. However, analysts were expecting earnings of $2.67 per share. Brown-Forman shares closed at $68.74 yesterday.