The company’s record full-year revenue numbers and recent acquisition of a rival energy drink brand seemed to soothe investors, which caused Celsius Holdings to soar on Friday.
In premarket trading, shares of the once-famous beverage manufacturer surged by over 33%. The record-breaking $332.2 million in revenue for Celsius’ fourth quarter exceeded the $326 million predicted by LSEG’s poll of analysts.
Moreover, adjusted earnings of 14 cents per share above analysts’ prediction of 11 cents.
The business also announced that it has agreed to pay $1.65 billion in cash and stock to acquire Alani Nutrition, the firm that makes the Alani Nu drinks, which are popular among social media influencers and cater to women.
Source (CNBC)
