Monster Beverage Shares Rally On Earnings, Stock Buyback Plan

By MarketsMarketWatch Pulse

Shares of Monster Beverage Corp. rallied in Wednesday's extended session after the energy drink maker posted higher earnings and announced a new $500 million stock repurchase plan. Monster reported its fourth-quarter earnings rose to $172.9 million, or 30 cents a share, from $138.7 million, or 22 cents a share, a year earlier. The company said its bottom line was negatively impacted by $46.3 million in distribution termination fees. Revenue increased to $753.8 million from $645.4 million. Analysts surveyed by FactSet had forecast earnings of 30 cents on revenue of $724 million. Shares gained more than 6% after hours.

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