Monster Beverage (NASDAQ: MNST) stock fell about 6% in the extended trading session as the company missed earnings and sales estimates for the second quarter 2019. The company’s profit for the second quarter of $0.53 per share and revenue of $1.10 billion failed to meet the market’s earnings projection of $0.56 per share and estimated revenue of $1.13 billion.
“We are pleased to report record gross and net sales in the 2019 second quarter, driven by our Reign Total Body Fuel high performance energy drinks, which we launched in the first quarter, as well as growth in our Monster Energy brand energy drinks both domestically and internationally,” said CEO Rodney Sacks.
“Our Monster Energy brand energy drinks were launched in a number of new countries during the quarter in the Middle East, Latin America and the Caribbean. Later this year we are planning to introduce a number of new Monster Energy brand energy drinks in the United States and in various international markets,” Sacks added.
Also read: PepsiCo edges past market estimates in Q2
In July, beverage giants PepsiCo (NASDAQ: PEP) and Coca-Cola (NYSE: KO) reported their second quarter results. Both the companies surpassed the market’s earnings estimates for their recently ended quarter.
Monster Beverage stock had advanced 23% since the beginning of this year and inched up 1% in the trailing 12 months.
Most Popular
AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard
