Why Monster Beverage's Stock Jumped 8.6% Higher This Morning
Shares of energy drink maker Monster Beverage (NASDAQ: MNST) rose as much as 8.6% on Friday morning, goosed by a solid third-quarter earnings report. By 11:40 a.m. EST, the stock had pulled back to a more modest gain of 3.7%.
Monster's sales increased by 12% year over year, landing at $1.13 billion. Earnings climbed 15% to $0.55 per share. The analyst consensus was calling for earnings near $0.54 per share on revenue in the vicinity of $1.11 billion, so Monster edged out Wall Street's expectations across the board.
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Source Fool.com
