SodaStream Shares Jump After Earnings Beat

SodaStream International Ltd. shares were up 13.6% in Tuesday premarket trading after the company said second-quarter earnings beat expectations. Net income totaled $7.8 million, or 37 cents per share, up from $960,000, or 5 cents per share, for the same period last year. The FactSet consensus was 21 cents per share. Revenue for the quarter totaled $119.2 million, up from $99.8 million for the same period last year, and beating the $106 million FactSet consensus. Revenue growth was attributed to a brand repositioning around sparkling water, according to Daniel Birnbaum, SodaStream chief executive officer, and an increase in sparkling water sales. SodaStream shares are up nearly 49% for the year so far while the S&P 500 Index is up 6.2% for the same period.