Investing.com - New Age Beverages (NASDAQ:NBEV) sank in midday trade on Thursday after its earnings came in lower than forecast.
The company reported a loss of $0.14 a share on $69.8 million in revenue, compared to expectations of a loss of only $0.04 a share on $70.2 million in revenue, according to Investing.com.
Despite the slight miss in revenue forecasts, the company posted a huge sales increase in the third quarter.
“Both China and Japan had their best results of the year, with China finishing the month of September at 5% growth versus prior year, and 92% growth versus the prior month,” said CEO Brent Willis.
Shares of the company fell 8% in midday trade.