Beyond Meat beats revenue estimates in first results since IPO

 Beyond Meat beats revenue estimates in first results since IPO

(Reuters) - Beyond Meat Inc on Thursday reported quarterly revenue above analysts' estimates in its first results since going public, as the company's plant-based burgers and sausages found favour with consumers flexing their diet plan to add vegan alternatives.

The California-based company said net loss widened to $6.6 million in the three months ended March 30, from $5.7 million a year earlier.

Net revenue came in at $40.2 million, an increase of 215%, the company said. Analysts had expected net revenue of $38.9 million, according to Refinitiv IBES data.

(Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)

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Updated Date: Jun 07, 2019 03:05:57 IST