Beyond Meat Shares Spike Despite Wider Loss As Restructuring Plans Aim For Profitability
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Beyond Meat reported Q4 revenue of $73.7M, down 7.8% year-over-year but exceeding estimates
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The company posted a larger-than-expected Q4 net loss of $155.1M, including non-cash charges
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Beyond Meat announced restructuring plans to reduce costs and achieve profitability
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The business is streamlining its product portfolio and production network
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BYND stock price spiked over 73% after hours despite the Q4 loss, but the stock has underperformed over the past year