Monster Beverage profit miss, shares fall

Nov 08 2012, 11:34 IST
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Monster Beverage Corp (AP) Monster Beverage Corp (AP)
SummaryMonster, which rejected safety concerns as baseless, saw its shares slide 12 percent.

made by distributor Coca-Cola Refreshments Canada, Monster said.

A stronger U.S. dollar had a negative impact of $12 million on sales and lower sales of its Monster Energy Extra Strength drink also hurt revenue, Sacks said. All other energy drinks posted higher sales, he added.

Sales of energy drinks form the fastest growing segment of the soft drinks market. Sales rose 17 percent to $9 billion in 2011 and are expected to exceed $10 billion this year, according to Beverage Digest.

Shares of the company closed at $44.97 on the Nasdaq on Wednesday.

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