Monster Beverage Corp. (NASDAQ: MNST) shares jumped 7% in intra-day trading on Friday after the energy drink company reported record quarterly sales and profit growth that topped Wall Street expectations.
The company posted adjusted earnings per share of $0.53, exceeding analyst estimates of $0.48. Revenue rose 16.8% year over year to $2.2 billion, beating forecasts of $2.11 billion. The performance was driven by strong global demand for Monster’s energy drinks, especially its Ultra product line.
Operating income surged 40.7% to $675.4 million, while net income rose 41.4% to $524.5 million. Gross profit margin expanded to 55.7% from 53.2% a year earlier, helped by higher pricing, supply chain efficiencies, and favorable product mix.
International revenue grew 23.3% to $937.1 million, representing 43% of total sales — the company’s highest quarterly share of international revenue to date.
