By Connor HartShares of Monster Beverage declined after posting second-quarter results that missed Wall Street's expectations. Sales of the company's Monster Energy Drinks segment rose 3.3% to $1.74 billion, but were hurt by foreign currency exchange rates. Its Strategic Brands segment, which primarily includes energy drink brands acquired from Coca-Cola, saw sales rise 9.6% to $109.2 million. The company's Alcohol Brands segment posted revenue of $41.6 million, a 32% decrease from last year's quarter, dragged down by lower sales volumes. Write to Connor Hart at connor.hart@wsj.com(END) Dow Jones NewswiresAugust 07, 2024 18:16 ET (22:16 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal August 07, 2024 22:26 UTC