Monster Beverage (MNST) Stock Dips Despite Q2 Earnings Beat

MNST stock was down about 1.1% after the bell Wednesday

Monster Beverage (NASDAQ:MNST) reported its latest quarterly earnings results on Wednesday, which unveiled mixed figures that sent shares sliding after hours despite its earnings beat.

Monster Beverage (MNST)For its second quarter of fiscal 2018, the energy drink maker said that its profit came in at around $270.12 million, which amounts to roughly 48 cents per share. In the year-ago quarter, the company brought in net income of $222.63 million, or 39 cents per share.

On an adjusted basis excluding special items, analysts were calling for Monster Beverage’s earnings to come in at around 47 cents per share, according to data from a survey conducted by Thomson Reuters. Revenue was also strong for Monster Beverage in its second quarter as sales surged to $1.02 billion, a 12.1% increase compared to the $910 million it raked in during the year-ago quarter.

The company also said that for the period, its distributor termination expenses tallied up to $5.5 million, while the company’s board also authorized a new stock repurchase program of $500 million in shares.

Monster Beverage’s net sales to customer outside the U.S. rose by 18.5% to $293.8 million in its second quarter of the fiscal year, better than the $247.9 million from the same quarter in fiscal 2017.

MNST stock fell about 0.7% during regular trading hours on Wednesday in anticipation of its quarterly earnings results. The company’s earnings beat was not enough to send its shares sliding about 1.1% after the bell today.

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