Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.3%. Looking ahead, revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Beverage industry in the US.

Keurig Dr Pepper announced on Thursday that it will acquire a portion of energy drink maker GHOST for $990 million.

Keurig Dr pepper said Thursday it will buy Ghost, an energy drink maker, for more than $1 billion over the next four years.

Keurig Dr Pepper is placing a billion-dollar bet on the $23 billion energy drink market. The beverage company, based in Burlington and Frisco, Texas, unveiled a deal on Thursday to buy the fast-growing Ghost energy drink business,

Keurig Dr Pepper (NASDAQ:KDP) traded 5.4% lower on Thursday after missing revenue estimates with its Q3 earnings report. However, the company also announced an M&A play that has some analysts intrigued.

Shares of Keurig Dr Pepper ( KDP -5.09%) were heading lower today after the beverage giant posted disappointing results in its third-quarter earnings report. The company also said it would acquire Ghost, a maker of energy drinks. As of 9:58 a.m. ET, the stock was down 4.3% on the news.

Keurig Dr Pepper (NASDAQ:KDP) shares fell more than 1% in premarket trading Thursday after the company reported Q3 revenue below analyst estimates. The beverage and coffeemaker posted third-quarter earnings per share (EPS) of $0.