Beyond Meat reported better-than-expected sales in the second quarter of the year, despite facing weak demand for its plant-based products. The company's revenue for the April-June period was $93.2 million, a decrease of nearly 9% compared to the previous year but surpassing Wall Street's expectations of $87.8 million.
This marks the ninth consecutive quarter of year-over-year revenue declines for Beyond Meat, as it continues to combat consumer perceptions that its products are overly processed, unhealthy, or lacking in taste. Sales volumes dropped by 14% in the second quarter due to reduced demand in both retail and food-service sectors in the U.S. and international markets.
