Why Celsius Holdings Stock Is Down 19% This Week
Shares of Celsius Holdings (NASDAQ: CELH) have lost 19.3% of their value this week, as of 11:25 a.m. EST, according to data from S&P Global Market Intelligence. The fitness drink maker posted a mixed earnings report on Thursday evening that sped up the plunge, but Celsius shares have been sliding all week long.
Third-quarter sales more than doubled year over year to $94.9 million. Breaking down the 157% jump in overall sales, you'll find that the North American market delivered a 214% revenue boost while international markets almost held firm with a 5% increase. Wall Street's consensus estimates called for total sales near $75 million.
On the bottom line, earnings according to generally accepted accounting principles (GAAP) fell from $0.06 to $0.03 per share. Here, our average analyst was looking for a repeat of the year-ago period's $0.06 per share.
Source Fool.com
