UPDATE: Constellation Brands Posts Higher Q3 Profit, Lifts FY14 Earnings Forecast

Constellation Brands

reported a 93% rise in its third-quarter profit. Constellation's quarterly profit surged to $211 million, or $1.07 per share. Its adjusted earnings per share jumped to $1.10 per share. Its revenue climbed 88% to $1.44 billion. However, analysts were estimating earnings of $0.91 per share on revenue of $1.39 billion. Constellation lifted its 2014 profit forecast to a range of $9.65 to $9.75 per share. Constellation shares closed at $69.93 yesterday.