Here's Why Monster Beverage Stock Is Sparkling Today
Shares of energy drink giant Monster Beverage (NASDAQ: MNST) traded 6.5% higher at 11:05 a.m. EDT Friday. The company published a solid first-quarter report on Thursday night, along with an optimistic analysis of how Monster is dealing with the COVID-19 crisis.
Monster's first-quarter sales rose 12% year over year to $1.06 billion, slightly ahead of analyst projections for $1 billion. Earnings landed at $0.52 per share, up from $0.48 per share in the year-ago period. Your average analyst had expected earnings to stay flat.
On the earnings call, CEO Rodney Sacks said that he tested positive for COVID-19 in March but has made a full recovery, and that his company is going through a similar experience.
Source Fool.com
