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Why Beyond Meat's Stock Popped 15.7% Today

TheMotleyFool

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Why Beyond Meat's Stock Popped 15.7% TodayPhoto, wide shot, wide-angle lens, Convenience store, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/35bdb659-cf5a-466a-95a9-428a230a2d2e.png

Shares of food manufacturer Beyond Meat (NASDAQ: BYND) jumped as much as 15.7% in trading on Thursday after reporting third-quarter 2023 financial results. Shares gave back some of their gains, but are still up 7.9% at 1:20 p.m. ET.

Revenue was up 8.7% to $75.3 million, and the company reported a gross loss of $7.3 million, or 9.6% of sales. Net loss was down from $101.7 million a year ago to $70.5 million, or $1.09 per share.

Results missed analyst estimates of $87.9 million in revenue and a loss of $0.85 per share.

Source Fool.com

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