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Beyond Meat beats forecasts in 1Q, shares soar over 20 percent


Added 06-07-19 09:04:02am EST - “Plant-based meat company Beyond Meat beat expectations in its first earnings report since it debuted on the stock market last month, while shares jumped to 20 percent.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Beyond Meat beats forecasts in 1Q, shares soar over 20 percent”. Below is an excerpt from the article.

Beyond Meat co-founder Ethan Brown discusses the investment and growth opportunities in his food business.

Plant-based meat maker Beyond Meat beat expectations in its first earnings report since its stock market debut last month.

Beyond Meat’s shares soared after it beat Wall Street’s first-quarter earnings and revenue forecasts. The company said it expected full-year revenue to hit $210 million this year, more than double its revenue last year. Analysts averaged Beyond Meat’s full-year revenue to hit $205 million.

“We’re being very conservative,” CEO and president Ethan Brown said. “I view this as a floor.”

The California-based company lost $6.6 million, or 95 cents per share, in the first quarter, compared to a 98-cent loss in the same period a year ago.

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