Investing.com - Ambev SA reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Ambev SA announced earnings per share of R$0.200 on revenue of R$20.590. Analysts polled by Investing.com anticipated EPS of R$0.030 on revenue of R$3.92B.
Ambev SA shares are down 11% from the beginning of the year and are trading at R$2.895 , down-from-52-week-high.
Ambev SA shares gained 3.39% in intra-day trade following the report.
Ambev SA follows other major Consumer Staples sector earnings this month
Ambev SA's report follows an earnings beat by Procter&Gamble on Wednesday, October 19, 2022, who reported EPS of R$1.57 on revenue of R$20.6B, compared to forecasts EPS of R$1.56 on revenue of R$20.37B.
Coca-Cola had beat expectations on Tuesday with third quarter EPS of R$0.69 on revenue of R$11.1B, compared to forecast for EPS of R$0.64 on revenue of R$10.53B.
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