Plant-based meat maker Beyond Meat beat Wall Street's expectations in its first earnings report since its IPO last month.

The El Segundo, California-based company lost $6.6 million, or 95 cents per share, in the first quarter, up slightly from a 98-cent loss in the same period a year ago.

Adjusted for compensation costs and other items, the company lost 14 cents per share. That was better than the 15-cent loss analysts had forecast, according to FactSet.

Beyond Meat reported revenue of $40.2 million, more than triple the prior year. That also beat Wall Street's forecast of $39 million.

The company was the first pure-play vegan meat maker to go public. Its $25 opening share price jumped 163% in the first day of trading.

Beyond Meat's shares were flat at $99.85 in after-hours trading.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Thank you for reading the Daily Journal.

Please purchase an Enhanced Subscription to continue reading.Please log in, or sign up for a new account and purchase an Enhanced Subscription to continue reading.