Beyond Meat on Monday reported its first quarterly profit and topped analysts’ expectations for its fiscal third-quarter earnings and revenue.
Despite the beat, shares of the company tanked as much as 15% in extended trading, before recouping about half of those losses. The stock, which has soared 321% since its initial public offering, closed Monday up 4.5%.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 6 cents vs. 3 cents expected
- Revenue: $92 million vs. $82.2 million expected
Beyond reported fiscal third-quarter net income of $4.1 million, or 6 cents per share, up from a loss of $9.3 million,…