BeyondMeat fell more than 14.6% before the market opened. Q1 net revenue fell by nearly 20%, lower than expected.

Gelonghui, May 9 | U.S. artificial meat company Beyond Meat (BYND.US) U.S. stocks fell more than 14.6% before the opening, to US$7.01

Gelonghui, May 9 | U.S. artificial meat company Beyond Meat (BYND.US) U.S. stocks fell more than 14.6% before the market opened, closing at $7.01.
Beyond Meat\’s net revenue in the first quarter was US$75.6 million, down 18% year-on-year. Analysts expected US$75.9 million; loss per share was US$0.84. The loss in the same period last year was US$0.92.
During the period, revenue from both the U.S. retail and foodservice channels fell by approximately 16%. In terms of international distribution, retail revenue fell by 12%. Foodservice revenue fell by 29%.
The company still expects full-year net revenue of $315 million to $345 million. Analysts expected $329.8 million.

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