Monster Beverage stock falls after Q2 earnings, sales miss
Shares of Monster Beverage Corp. fell more than 11% in the extended session Wednesday after the company reported second-quarter profit and sales below Wall Street expectations. Monster said it earned $292.5 million, or 53 cents a share, in the quarter, compared with $270.1 million, or 48 cents a share, in the second quarter of 2018. Revenue rose 8.7% to $1.10 billion, compared with $1.02 billion a year ago. Analysts polled by FactSet had expected earnings of 56 cents a share on sales of $1.13 billion. Monster pinned the revenue increase on its Reign Total high-performance energy drinks, launched in the first quarter, as well as growth in other energy drinks. The stock ended the regular trading day up 0.4%.
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