Sodastream International Ltd (NASDAQ:SODA) stock was flying high on Thursday following the release of its earnings report for the third quarter of 2016.
Sodastream International Ltd reported revenue of $124.23 million during its third quarter of 2016. The company reported revenue of $110.02 million in the third quarter of 2015. Wall Street was expecting the company to report revenue of $115.05 million for the quarter.
Sodastream International Ltd said that the increase in revenue during the third quarter of 2016 was due to an increase in demand for sparkling water makers and consumables. SODA said that the majority of this demand came from Germany, Japan, Australia, the Nordics, the United States and Canada.
Earnings per share reported by Sodastream International Ltd in the third quarter of 2016 was 69 cents. Earnings per share reported by the company during the same time last year was 11 cents. Analysts were expecting the company to report earnings per share of 23 cents for the third quarter of the year.
Net income reported by Sodastream International Ltd in the third quarter of 2016 was $14.91 million. The sparkling water company reported net income of $2.24 million during the third quarter of the year prior.
“Importantly, we are driving growth in a highly profitable manner and generating strong free cash flow following the recent consolidation of our manufacturing, logistics and distribution activities and expense optimization efforts,” Daniel Birnbaum, CEO of Sodastream International Ltd, said in a statement. “With significant growth opportunities ahead of us, we are very excited about the future of the business.”
SODA stock was up 12% as of Thursday morning and 93% year-to-date.
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