Monster Beverage Stock Soars 10% After Strong Quarterly Earnings

Shares of Monster Beverage skyrocketed more than 10% in after-hours trade Thursday, following the company's stronger-than-expected third-quarter earnings and sales. The energy drink maker reported net income of $174.6 million, or 84 cents a share, compared with $121.6 million, or 70 cents, in the year-earlier period. Analysts polled by FactSet had been anticipating earnings per share of 81 cents. Revenue for the three-month period increased 16% to $756.6 million compared with $636 million, beating the FactSet consensus view of $733 million. The company attributed the gains to progress with its international Coca-Cola bottler partnerships, including a partnership with a bottler in Germany inked in July that has helped spur growth in Europe. Despite the gains, the company said some growth was impeded by "uncertainties," including non-Coca-Cola distributor transitions, in other portions of its international market, and negative foreign exchange rates. Shares of Monster Beverage traded around $146 in after-hours trade on Thursday after closing the regular session at $132.24.