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SodaStream shares climb after beating revenue estimates

Employees pack boxes of SodaStreams at the factory in the West Bank Jewish settlement of Maale Adumim.
Ammar Awad | Reuters
Employees pack boxes of SodaStreams at the factory in the West Bank Jewish settlement of Maale Adumim.

SodaStream shares spiked 16 percent Tuesday after the company beat revenue estimates.

The carbonated drinks maker reported $119.2 million in revenue, a 17.2 percent increase from the second quarter of 2015.

"Our work repositioning the SodaStream brand around sparkling water and effectively communicating the compelling benefits of our home carbonation system helped drive double digit revenue growth in each of our four geographic regions," CEO Daniel Birnbaum said.

Birnbaum also said the company's marketing programs resonated with customers and helped increase sales.

The company's net income also increased 120 percent to $7.8 million from $3.5 million in the second quarter of 2015.

SodaStream stock has climbed 73 percent this year.

SodaStream's year-to-date stock performance:

Correction: This story has been updated to reflect that SodaStream reported $119.2 million in revenue. An earlier version of this story misstated the figure.