Celsius Rallies as Energy Drinks Boom Leads to Earnings Beat

Celsius Holdings Inc. shares rallied after first-quarter sales and earnings exceeded expectations, signaling demand for its energy drinks remains high in the face of wobbly consumer sentiment and competition.

Shares jumped as much as 10% in premarket trading. The Boca Raton-based company posted revenue of $782.6 million, topping the analyst consensus of $764.4 million. Adjusted earnings per share more than doubled to 41 cents, beating the estimate of 29 cents.