Monster Beverage shares climb after earnings, stock buyback plan

CNBC | on Thu, Mar 2, 4:17 PM

Shares of Monster Beverage[1] closed up more than 12 percent on Thursday after the energy drink maker posted better-than-expected quarterly revenue and announced a new $500 million stock buyback plan. On Wednesday, the Corona, California-based beverage company reported fourth-quarter earnings of 30 cents per share, in line with estimates, on revenue of $753.8 million. Analysts polled by Thomson Reuters forecast revenue of $722.2 million. "We are pleased to report continued progress on the str...

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