Monster Beverage: 2Q Earnings Snapshot
CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Wednesday reported second-quarter profit of $292.5 million.
The Corona, California-based company said it had profit of 53 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The energy drink maker posted revenue of $1.1 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $1.13 billion.
Monster Beverage shares have increased 23% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 15%. In the final minutes of trading on Wednesday, shares hit $60.39, a rise of 1% in the last 12 months.