CORONA, Calif. (AP) — CORONA, Calif. (AP) — Monster Beverage Corp. (MNST) on Thursday reported fourth-quarter net income of $270.7 million.
The Corona, California-based company said it had net income of 28 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 38 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The energy drink maker posted revenue of $1.81 billion in the period, exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.79 billion.
For the year, the company reported profit of $1.51 billion, or $1.49 per share. Revenue was reported as $7.49 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
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