UPDATE: Molson Coors Posts Upbeat Q2 Profit

Molson Coors Brewing Co TAP reported a rise in its second-quarter profit. Molson Coors posted a quarterly profit of $278.4 million, or $1.51 per share, up from $105.2 million, or $0.57 per share, in the year-earlier quarter. Its sales surged to $1.66 billion from $1.44 billion. However, analysts were estimating earnings of $1.40 per share on sales of $1.23 billion. Molson Coors shares closed at $50.08 yesterday.