Monster Beverage: 4Q Earnings Snapshot
CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Thursday reported fourth-quarter profit of $255 million.
The Corona, California-based company said it had net income of 47 cents per share.
The results topped Wall Street expectations. The average estimate of seven 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 exceeding Street forecasts. Five analysts surveyed by Zacks expected $996.9 million.
Monster Beverage shares have risen slightly since the beginning of the year, while the Standard & Poor’s 500 index has dropped nearly 7%. In the final minutes of trading on Thursday, shares hit $63.74, an increase of 8.5% in the last 12 months.