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Monster Beverage Corp (NASDAQ: MNST) ticked up in Thursday's extended session after the company beat fourth-quarter expectations and said its partnership deal with The Coca-Cola Co (NYSE: KO) will close in the second quarter.
The Corona, California-based company changed hands recently at $131.49, up more than 5 percent.
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Coke agreed in August to acquire a 16.7 percent stake in Monster for $2.15 billion in cash. The deal had initially been expected to close late in 2014 or early in 2015.
Monster's net income for the recent period increased 64.7 percent to $125.3 million, or $0.72 a share, from $76.1 million, or $0.44 a share in the same quarter last year.
Sales grew 12 percent to $605.6 million from $540.8 million a year earlier.
Wall Street expected fourth-quarter earnings of $0.59 a share, on sales of $584.46 million.
Chief Executive Rodney Cyril Sacks said the company is "making good progress in working through transitional issues" related to its deal with Coke announced in August.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.