Beyond Meat Stock Jumps On Q2 Earnings: What You Need To Know
Portfolio Pulse from Adam Eckert
Beyond Meat Inc (NASDAQ:BYND) reported Q2 revenue of $93.2 million, beating estimates but posted a larger-than-expected adjusted loss per share. Despite a year-over-year revenue decline, the company ended the quarter with $158 million in cash and $1.1 billion in debt. Shares rose 6.49% after hours.
August 07, 2024 | 8:39 pm
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Beyond Meat reported Q2 revenue of $93.2 million, beating estimates but posted a larger-than-expected adjusted loss per share. Despite a year-over-year revenue decline, the company ended the quarter with $158 million in cash and $1.1 billion in debt. Shares rose 6.49% after hours.
The positive revenue surprise and the after-hours stock price increase indicate a short-term positive impact on Beyond Meat's stock. However, the larger-than-expected loss and year-over-year revenue decline may temper long-term investor enthusiasm.
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