Monster Beverage Trades Down 8% After Q2 Results
Monster Beverage (NASDAQ: MNST) released its fiscal second-quarter earnings results after the closing bell on Wednesday. During Thursday's trading session, the stock opened sharply lower and was trading down more than 8 percent in mid-day trading. Including Thursday's loss, MNST shed around 14 percent over the last three months.
The company reported net income of $109.8 million or $0.59 per share, compared to $84.2 million or $0.45 per share in the year ago period. This missed Wall Street analyst consensus EPS estimates of $0.61.
Revenues in the quarter were $592.6 million compared to $462.1 million last year. This also missed analysts' consensus revenue estimates of $596.12 million.
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