Ambev SA (NYSE: ABEV) shares tumbled 5.16% during pre-market trading on Thursday, as investors reacted to the company's second-quarter financial results.
The beverage giant reported quarterly earnings of $0.04 per share, which met analyst expectations and represented a 33.33% increase from the same period last year. However, revenue of $3.973 billion fell short of the consensus estimate of $4.330 billion, a miss of 8.24%, despite being a 12.04% increase from the prior year's sales of $3.546 billion.
The top-line miss appears to have overshadowed the inline earnings performance and year-over-year growth, triggering a sell-off in the pre-market session.
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