CORONA, Calif. (AP) _ Monster Beverage Corp. (MNST) on Tuesday reported second-quarter earnings of $311.4 million.
On a per-share basis, the Corona, California-based company said it had net income of 59 cents.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The energy drink maker posted revenue of $1.09 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.01 billion.
Monster Beverage shares have climbed 23% since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 2%. In the final minutes of trading on Tuesday, shares hit $78.01, a rise of 32% 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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