Ambev Soars Most Since 1999 as Brazil Beer Boosts Earnings

Shares of Ambev SA, the Brazilian unit of Anheuser-Busch InBev NV, soared the most in over 27 years after stronger-than-expected beer volumes in the South American nation drove a beat in first quarter earnings.

The stock climbed 15% in Sao Paulo on Tuesday, marking its biggest advance since February 1999. Adjusted earnings before interest, taxes, depreciation and amortization totaled 7.6 billion reais ($1.5 billion), translating into a 33.6% Ebitda margin.