Monster Beverage: 3Q Earnings Snapshot
CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Thursday reported third-quarter net income of $298.9 million.
On a per-share basis, the Corona, California-based company said it had profit of 55 cents.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The energy drink maker posted revenue of $1.13 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.11 billion.
Monster Beverage shares have risen 15% since the beginning of the year, while the Standard & Poor’s 500 index has risen 23%. The stock has climbed slightly more than 1% in the last 12 months.