Monster Beverage Sales Rise on International Growth
Dow Jones08-07
Monster Beverage reported higher second-quarter revenue and profit, boosted by growth in sales to customers outside the U.S.
The company posted net income of $584.5 million, or 59 cents a share, up from $488.8 million, or 50 cents a share, the year prior.
Adjusted earnings were 60 cents a share. Analysts polled by FactSet expected 58 cents a share.
Net sales rose 20% to $2.54 billion, driven by 35% growth among customers outside the U.S. Wall Street expected $2.43 billion.
"The energy drink category continues to attract new consumers, expand usage occasions and increase household penetration," said Chief Executive Hilton Schlosberg.
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