Monster Beverage 4Q Revenue Rises on International Growth
By Sabela Ojea
Monster Beverage said revenue climbed in the fourth quarter, driven by its international expansion and growth across its main energy drinks and alcohol brands segment.
The energy-drink maker on Wednesday said profit rose to $367 million, or 35 cents a share, from $301.7 million, or 29 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast earnings per share of 43 cents.
Revenue climbed 14% to $1.73 billion, missing analysts expectations of $1.76 billion, according to FactSet.
"We continue to see sound growth in the energy drink market globally," Co-Chief Executive Hilton Schlosberg said after sales to customer outside the U.S. increased 17% to $637 million.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 28, 2024 17:07 ET (22:07 GMT)
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