Monster Beverage (NASDAQ:MNST) posted its quarterly earnings results for the first three months of the current fiscal year, impressing analysts and investors alike as the company’s profit was stronger than what the Wall Street consensus estimate called for, while revenue also topped what analysts predicted, playing a role in helping lift MNST stock after hours.
The Corona, Calif.-based energy drink manufacturer and seller said that for its first quarter of its 2019, it brought in net income of $261.5 million, or 48 cents per share. These results were stronger than what the Wall Street consensus estimate called for as the average estimate of eight analysts who were surveyed by Zacks Investment Research called for earnings of 43 cents per share.
Monster Beverage added that for the period, it brought in sales of $946 million, an amount that was also stronger than what the Wall Street consensus estimate called for. This guidance called for revenue of $916.3 million, according to a survey of six analysts conducted by Zacks.
MNST stock is up about 6.1% after the bell Thursday following the company’s strong quarterly earnings performance that saw both its earnings and revenue come in ahead of the mark. Shares had been up a fraction of a percentage during regular trading hours today in anticipation of Monster Beverage’s results.
The stock has also managed to increase about 18% since the beginning of the current calendar year.