Monster Beverage: 2Q Earnings Snapshot
Aug. 08, 2018
CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Wednesday reported second-quarter net income of $270.1 million.
On a per-share basis, the Corona, California-based company said it had net income of 48 cents.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The energy drink maker posted revenue of $1.02 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $1.03 billion.
Monster Beverage shares have decreased 6 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 7 percent. In the final minutes of trading on Wednesday, shares hit $59.40, a rise of 13 percent in the last 12 months.