Stock Alert: Celsius Jumps 26% After Q1 Results

(RTTNews) - Shares of Celsius Holdings, Inc. (CELH), a provider of functional calorie-burning fitness beverages, are rising more than 26 percent or $1.43 in Tuesday's morning trade at $6.90 after its first-quarter results beat analysts' estimates. The stock has traded in a range of $3.06 to $7.14 in the past 52 weeks.

Tuesday, Celsius said it has moved many of its experiential off-line activations to digital and online platforms, driving a 167 percent increase in its average daily online sales volume compared to a year ago. In the first month of the second quarter, the company saw North America sales volume growth of about 38 percent over the prior year.

Celsius reported first-quarter net income of $546,000 or $0.01 per share, down sharply from $11.7 million or $0.19 per share in the year-ago period, which included a gain of $12.2 million related to the recognition of a note receivable. Revenue for the quarter surged 95 percent to $28.2 million from $14.5 million in the year-ago quarter.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share for the quarter on revenues of $23.36 million.