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Why Beyond Meat Stock Jumped on Friday

TheMotleyFool

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Shares of Beyond Meat (NASDAQ: BYND) climbed nearly 9% on Friday, continuing their sizzling gains since the plant-based meat substitute company released its earnings report on Tuesday.

Despite the affects of the COVID-19 pandemic, which forced many restaurants to close, Beyond Meat's net revenue soared 141% year over year to $97.1 million in the first quarter.

Beyond Meat also delivered an unexpected profit. Net income came in at $1.8 million, or $0.03 per share, versus a loss of $6.6 million, or $0.95 per share, in the prior-year period. Wall Street had expected a loss of $0.06 per share.

Source Fool.com

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