Monster Beverage Sinks As Quarterly Results Fall Short

Shares of Monster Beverage Corp. slid in Thursday's extended session after the energy-drink maker reported quarterly results and a stock repurchase program of up to $1.75 billion. Monster Beverage reported fourth-quarter earnings of $138.7 million, or 67 cents a share, compared with $125.3 million, or 72 cents a share, a year ago. Revenue rose 6.6% to $645.4 million. Analysts surveyed by FactSet had projected earnings of 82 cents a share on revenue of $700 million. Monster Beverage shares fell 5.7% in after-hours trading.