CORONA, Calif. (AP) — Monster Beverage Corp. reported explosive growth in its second quarter as consumers downed more of its energy drinks, but its shares fell in after-hours trading Wednesday as the results missed analysts' expectations.
The Corona, Calif.-based company earned $109.8 million, or 59 cents per share, for the quarter that ended June 30. That's up from $84.2 million, or 45 cents per share, the same quarter last year.
Sales rose 28 percent to $592.6 million. Operating expenses rose 22 percent, to $137.2 million.
The quarter's performance fell short of Wall Street's forecasts. Analysts polled by FactSet thought the company would earn 61 cents per share on revenue of $595 million.
Monster expanded into Ecuador, Hong Kong, Japan, Macau and Slovenia during the quarter. It plans launches into new international markets later this year and into 2013.
Shares fell $5.81, or 8.6 percent, to $61.96 in after-hours trading. The stock lost $1.09 to close at $67.77 in the regular session.
