Let's go over Beyond Meat's earnings.
The company's net income registered $1.8 million, or 3 cents a share, in the first quarter, compared to a net loss of $6.6 million, or 95 cents per share in the year-ago period. Analysts polled by FactSet anticipated a loss of 7 cents for the latest quarter.
Revenue more than doubled to $97.1 million in the latest quarter from $40.2 million a year ago. Analysts predicted $88.8 million for this year’s number.
“Our first-quarter financial results exceeded our expectations despite an increasingly challenging operating environment due to the Covid-19 health crisis," Beyond Meat CEO Ethan Brown said in a statement. “During this unprecedented time, we remain steadfast in our resolve to continue to provide great-tasting plant-based meats to consumers, to solidify our support to our retail and food-service customers, and to continue to lead the global plant-based meat movement.”
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