Why Boston Beer's Shares Dropped 10.3% on Thursday
Shares of Boston Beer (NYSE: SAM) fell as much as 10.3% in trading on Thursday after the company reported fourth-quarter 2020 results. Shares ended the day down 7.8%.
Revenue was up an impressive 53.5% to $460.9 million and net income jumped 135.7% to $32.8 million, or $2.64 per share. Analysts were only expecting $453.2 million in revenue and earnings of $2.62 per share, so results easily topped that bar.
Image source: Getty Images.
Source Fool.com
