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CORONA, Calif. (AP) — CORONA, Calif. (AP) — Monster Beverage Corp. (MNST) on Thursday reported first-quarter earnings of $443 million.
On a per-share basis, the Corona, California-based company said it had net income of 45 cents. Earnings, adjusted for non-recurring costs, were 47 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The energy drink maker posted revenue of $1.85 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $1.98 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MNST at https://www.zacks.com/ap/MNST