Free daily briefing on global business news.
The energy drink company's total revenue of $817.9 million missed analyst expectations by roughly $55 million in the second quarter
Bloomberg / Getty Images
Celsius Holdings shares dropped as much as 18% before the opening bell on Thursday after the company reported second-quarter revenue below what analysts had expected and revealed a decline in sales for its namesake Celsius brand.
For the quarter ending June 30, Celsius Holdings posted revenue of $817.9 million, an 11% increase from the prior-year period that nonetheless fell short of the $872.6 million average analyst estimate, according to Bloomberg. Revenue for the Celsius brand fell approximately 11.7% compared to the same period last year, the company said. Analyst consensus for adjusted earnings per share was 41 cents, according to Bloomberg; the company reported adjusted diluted EPS of 36 cents.
