Monster Beverage profit misses estimates, shares fall
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)