CORONA, Calif. (AP) — CORONA, Calif. (AP) — Monster Beverage Corp. (MNST) on Thursday reported third-quarter net income of $370.9 million.
The Corona, California-based company said it had net income of 38 cents per share. Earnings, adjusted for non-recurring costs, came to 40 cents per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The energy drink maker posted revenue of $1.88 billion in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $1.91 billion.
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