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Monster Beverage beats Street 4Q forecasts

CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Wednesday reported fourth-quarter earnings of $172.9 million.

The Corona, California-based company said it had net income of 30 cents per share. Earnings, adjusted for non-recurring costs, were 35 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The energy drink maker posted revenue of $753.8 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $723.9 million.

For the year, the company reported profit of $712.7 million, or $1.19 per share. Revenue was reported as $3.05 billion.

Monster Beverage shares have dropped slightly more than 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 7 percent. In the final minutes of trading on Wednesday, shares hit $42.01, a decrease of nearly 3 percent in the last 12 months.

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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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Keywords: Monster Beverage, Earnings Report