Monster Beverage's Q2 profit missed expectations due to a drop in alcohol brand sales.
Monster Beverage's Q2 profit of $425.4m ($0.41/share) missed analyst expectations ($0.45/share) despite a 2.5% revenue boost to $1.9bn. Sales of Monster Energy Drinks increased 3.3% to $1.74bn, but Alcohol Brands sales plummeted 32% to $41.6m due to lower sales volumes. The energy drink maker's stock dropped 9% after the report.
August 07, 2024
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