Beyond Meat earnings miss big on declining food service and consumer demand

Beyond Meat earnings miss big on declining food service and consumer demand

3 years ago
Anonymous $RGO3jP_V_c

https://techcrunch.com/2020/11/09/beyond-meat-has-a-mcfaceplant/

Beyond Meat’s partnership with McDonald’s to develop the McPlant burger wasn’t enough to keep shares from collapsing after the company posted third-quarter earnings that fell far below analysts’ expectations.

The big miss sent shares tumbling nearly 29% in after markets closed Monday after reporting it generated $94.4 million in revenues and a loss of 28 cents per share vs the $132.8 million in revenue and 5 cents per share loss that analysts had expected.

Beyond Meat earnings miss big on declining food service and consumer demand

Nov 10, 2020, 12:15am UTC
https://techcrunch.com/2020/11/09/beyond-meat-has-a-mcfaceplant/ > Beyond Meat’s partnership with McDonald’s to develop the McPlant burger wasn’t enough to keep shares from collapsing after the company posted third-quarter earnings that fell far below analysts’ expectations. > The big miss sent shares tumbling nearly 29% in after markets closed Monday after reporting it generated $94.4 million in revenues and a loss of 28 cents per share vs the $132.8 million in revenue and 5 cents per share loss that analysts had expected.