CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Thursday reported first-quarter net income of $315.2 million.
On a per-share basis, the Corona, California-based company said it had net income of 59 cents.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The energy drink maker posted revenue of $1.24 billion in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $1.22 billion.
Monster Beverage shares have risen nearly 3% since the beginning of the year, while the S&P's 500 index has climbed 12%. In the final minutes of trading on Thursday, shares hit $95.02, a rise of 55% 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
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