What happened Shares of craft brewer Boston Beer (NYSE: SAM) popped in the premarket, and initially traded up 8% Friday morning after the maker of Sam Adams beer reported first-quarter earnings Thursday evening. As of 9:45 a.m. EDT, the stock had pared some of those gains, trading almost 3% above yesterday's closing price. So what Boston Beer reported earnings of $5.26 per share, blowing past the mean analyst estimate of $2.61 per share. Net revenue of $545 million also soared past estimates and grew 65% from the year-ago period. Much of the credit for the successful quarter can be attributed to the continued success of the company's Truly Hard Seltzer and Twisted Tea brands. Image source: Getty Images. The strength in the hard seltzer and iced tea brands was partially offset by declines in sales of its Samuel Adams and Dogfish Head beer brands, as well as Angry Orchard hard cider. Now what Boston Beer continues to lead the growth in popularity of hard seltzers. The company recently launched Truly Iced Tea Hard Seltzer, which it said has helped the Truly brand double sales since last year. Boston Beer president and CEO Dave Burwick said in the earnings release that the Truly brand outgrew the overall hard seltzer category, giving the brand a market share of over 28%. There is new competition in the segment, however. Coca-Cola (NYSE: KO) has launched a hard seltzer product line inspired by its Topo Chico sparkling mineral water brand. Topo Chico Hard Seltzer has been expanding in Latin America and Europe, and was recently launched in some key U.S. markets. Investors in Boston Beer would be smart to monitor whether Truly's market share is affected by the new offering going forward. 10 stocks we like better than Boston BeerWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Boston Beer wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Howard Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Boston Beer. The Motley Fool has a disclosure policy.Source