Monster Beverage (MNST) shares rose early Friday as the energy drink company recorded fourth-quarter sales above market expectations, driven by higher prices and growing demand in the US.

Sales increased to $1.81 billion for the December quarter from $1.73 billion the year before, the company said late Thursday, compared with the consensus on FactSet for $1.79 billion. Foreign exchange was a headwind of about $52.3 million on the topline results. Adjusted earnings remained unchanged year over year at $0.38 per share, below the Street's view for $0.40.

"We continued to see sustained growth in the global energy drink category," co-Chief Executive Hilton Schlosberg said in a statement. "In the US, we are seeing a resurgence of growth in the energy drink category in convenience, as well as in all measured channels reported by Nielsen."

The results were helped by a roughly 5% price increase in the US on the company's brands and packages, excluding Bang Energy, Reign and Reign Storm, implemented in the beginning of November, according to Schlosberg. "We are continuing to monitor opportunities for further pricing actions, both domestically and internationally," co-CEO Rodney Sacks said during an earnings call, according to a FactSet transcript.

Shares of Monster Beverage inclined 3.1% in the most recent premarket activity.

The Monster energy drink segment sales gained 4.5% to $1.67 billion, while the strategic brands division climbed 11% to $102 million. Revenue in alcohol brands edged down 0.8% to $34.9 million amid a $130.7 million impairment charge, among other adverse impacts within the segment. Sales to customers outside the US, which accounted for roughly 39% of total revenue, advanced 12% to $711.5 million.

Operating expenses increased to $621.2 million from $504.4 million in the prior-year quarter, mainly due to the $130.7 million impairment charge in the alcohol brands segment, Sacks said on the call. "The impairment charges were primarily the result of operating and financial performance, not meeting projections due in part to challenges in the category, as well as a decrease in projected ongoing operating and financial performance," according to Sacks.

Gross profit as a percentage of sales rose to 55.3% from 54.2% on a yearly basis, the company said. The increase was primarily due to reduced input costs, which were partially offset by geographical sales mix, according to Sacks.