The Fortune 500 company said that net sales rose 10.1% to $2.3bn, above analyst estimates of $2.25bn.
Net income attributable to the company more than doubled to $1.15bn, lifted by its current investments in the world’s largest publicly traded marijuana company, Canopy Growth Corp.
Earlier this year, the drinks company launched Corona Premier - the first addition to the Corona franchise in almost three decades.
New product lines as well as its slightly more expensive beer brand Modelo, drove beer sales up about 11% to $1.53bn, according to Constellation Brands.
Its wine and spirits business also reported 9.3% sales growth.
Chief Executive Officer, Rob Sands, said: “Constellation remains the high-end leader and the most significant growth contributor in the U.S. beer market, and we’re seeing strong growth trends for the super-premium plus segment of our wine portfolio.
“Our $4 billion investment in Canopy Growth provides us with a strong foothold in the emerging global cannabis market, which could be one of the most significant growth opportunities of the next decade.”