Beyond Meat said Wednesday that its revenue fell nearly 9% in the second quarter on lower demand for its plant-based burgers, chicken and other products.
The El Segundo, California-based company reported revenue of $93.2 million for the April-June period. But that was better than the $87.8 million Wall Street anticipated, according to analysts polled by FactSet.
Its stock jumped 12% in after-market trading.
Beyond Meat narrowed its net loss to $34.4 million, or 53 cents per share. That was in line with analysts’ forecasts.