![]() The quarter was again impacted by unfavorable foreign currency exchange rates. “We are pleased to report another quarter of solid revenue growth, with record sales for our third quarter. “The energy drink market in the United States, as well as internationally, continues to grow,” commented vice chairman and co-CEO Hilton Schlosberg. Net income per share rose 41.3% to $0.43, beating analysts’ consensus estimate of $0.40. The company noted that net changes in foreign currency exchange rates had an unfavorable impact on net sales of $29.2 million. Net sales for the company’s main Monster Energy Drinks segment, including Monster Energy drinks, Reign Total Body Fuel high-performance energy drinks, Reign Storm total wellness energy drinks and Bang Energy drinks, increased 13.7% to $1.71 billion Analysts had expected net sales of $1.87 billion. Net sales for the three months to September 30, 2023, rose 14.3% to $1.86 billion, boosted by price increases and its acquisition of Bang Energy at the end of July. Monster Beverage has reported record third-quarter sales that were just shy of analysts’ expectations and a sharp rise in earnings as demand for energy drinks continues to grow. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Proactive will on occasion use automation and software tools, including generative AI. The team also has access to and use technologies to assist and enhance workflows. ![]() Our human content creators are equipped with many decades of valuable expertise and experience. Proactive has always been a forward looking and enthusiastic technology adopter. ![]() The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. This is content that excites and engages motivated private investors. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. Engineered to fuel the toughest workouts, Reign Total Body Fuel combines BCAAs, L-arginine and B-vitamins with zero sugar. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors.
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