Monster Beverage: 3Q Earnings Snapshot
CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Wednesday reported third-quarter net income of $267.7 million.
On a per-share basis, the Corona, California-based company said it had net income of 48 cents. Earnings, adjusted for non-recurring costs, came to 50 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The energy drink maker posted revenue of $1.02 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $990.8 million.
Monster Beverage shares have declined 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. In the final minutes of trading on Wednesday, shares hit $55.91, a fall of 3.5 percent in the last 12 months.