EL SEGUNDO, Calif. (AP) — EL SEGUNDO, Calif. (AP) — Beyond Meat Inc. (BYND) on Wednesday reported a loss of $59 million in its first quarter.
The El Segundo, California-based company said it had a loss of 92 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.
The plant-based meat company posted revenue of $92.2 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $92.1 million.
Beyond Meat expects full-year revenue in the range of $375 million to $415 million.
Beyond Meat shares have climbed slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.48, a decline of 59% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BYND at https://www.zacks.com/ap/BYND
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