Reuters: Hot Stocks: Monster Beverage profit misses estimates, shares fall

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Monster Beverage profit misses estimates, shares fall Aug 8th 2013, 20:28 Thu Aug 8, 2013 4:28pm EDT Aug 8 (Reuters) - Energy drinks maker Monster Beverage Corp reported a lower-than-expected quarterly profit, hurt by a stronger dollar and legal costs related to its Monster Energy drinks. Shares of the company fell 9 percent in post-market trading. The company, formerly known as Hansen Natural, said profit fell to $106.8 million, or 62 cents per share, from $109.8 million, or 59 cents per share, a year earlier. Analysts on average were expecting a profit of 64 cents per share, according to Thomson Reuters I/B/E/S. The company, which started off selling fresh non-pasteurized juices in Los Angeles in the 1930s, said revenue rose 6.6 percent to $723.9 million. (Reporting by Aditi Shrivastava in Bangalore; Editing by Saumyadeb Chakrabarty)

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