BEYOND MEAT’S FIRST POST-IPO RESULTS
- Net sales increased by 215%
- Stock up 24%
Beyond Meat Inc. (NASDAQ: BYND), a Los Angeles-based producer of plant-based meat, reported higher-than-expected results yesterday in its first-ever earnings report.
Up by an astonishing 215% from the year before, net sales increased to $40.2 million, which was above the market expectations of $38.9 million. In total, the company reported a first-quarter net loss of $6.6 million, or $0.95 per share. In 2018, Beyond Meat recorded revenue of $87.9 million and a net loss of $4.75 per share.
Shares of Beyond Meat jumped nearly 24% in premarket trading on Friday.