Investing.com – New Age Beverages (NASDAQ:) sank in midday trade on Thursday after its earnings came in lower than forecast.
The company reported a of $0.14 a share on $69.8 million in revenue, compared to expectations of a loss of only $0.04 a share on $70.2 million in revenue, according to Investing.com.
Despite the slight miss in revenue forecasts, the company posted a huge sales increase in the third quarter.
“Both China and Japan had their best results of the year, with China finishing the month of September at 5% growth versus prior year, and 92% growth versus the prior month,” said CEO Brent Willis.
Shares of the company fell 8% in midday trade.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.