Fomento Economico Mexicano (FMX) or FEMSA, reported Q1 net income Monday of 8.94 billion Mexican pesos ($458 million), up from 5.79 billion pesos a year earlier.

Analysts polled by FactSet expected 5.35 billion pesos.

Revenue for the quarter ended March 31 was 195.82 billion pesos, up from 176.33 billion pesos a year earlier.

Analysts surveyed by FactSet expected 194.80 billion pesos.

Shares of the beverage company were up 1.9% in recent premarket activity.