Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus estimates.
Adjusted loss widened to $0.34 per share in the December-quarter from $0.01 per share in the prior-year period. Market watchers had predicted a smaller loss for the most recent quarter.
Unadjusted net loss was $25.1 million or $0.40 per share, compared to a loss of $0.5 million or $0.01 per share in the fourth quarter of 2019. Meanwhile, total revenues advanced 3.5% to $101.9 million from $98.5 million last year, but missed the Street view.
Beyond Meat’s stock closed Thursday’s regular trading lower but gained during the extended session.
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