DENVER (AP) _ Molson Coors Brewing Co. (TAP) on Thursday reported third-quarter net income of $342.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Denver-based company said it had net income of $1.58. Earnings, adjusted for one-time gains and costs, came to $1.62 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.

The beer maker posted revenue of $3.38 billion in the period. Its adjusted revenue was $2.75 billion.

Molson Coors shares have decreased 39% since the beginning of the year, while the Standard & Poor's 500 index has risen 1%. The stock has dropped 40% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TAP at https://www.zacks.com/ap/TAP

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News