EL SEGUNDO, Calif. (AP) _ Beyond Meat Inc. (BYND) on Tuesday reported a loss of $10.2 million in its second quarter.
On a per-share basis, the El Segundo, California-based company said it had a loss of 16 cents. Losses, adjusted for non-recurring costs and to extinguish debt, were 2 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The plant-based meat company posted revenue of $113.3 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $99.3 million.
Beyond Meat shares have risen 88% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $142.25, a decline of 19% in the last 12 months.
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
Automated Insights, source Associated Press News