CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Thursday reported first-quarter earnings of $261.5 million.
The Corona, California-based company said it had net income of 48 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The energy drink maker posted revenue of $946 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $916.3 million.
Monster Beverage shares have risen 18% since the beginning of the year, while the Standard & Poor's 500 index has climbed 16%. In the final minutes of trading on Thursday, shares hit $58.02, a climb of 10% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MNST at https://www.zacks.com/ap/MNST
Automated Insights, source Associated Press News