Vegetarian doesn’t have to look like a yogurt bowl anymore…
Beyond Meat BYND 169.25 +0.96 +0.57% reported a Quarter March 2019 ($0.14) per share on revenue of $40.2 million. The consensus estimate was a loss of ($0.14) per share on revenue of $38.7 million.
The company said it expects 2019 revenue to exceed $210.0 million. The current consensus estimate is revenue of $205.5 million for the year ending December 31, 2019.
Revenue beat and increased revenue projections has this stock up over 20% premarket.
Are we there yet? Guess the future will tell whether or not enough people are interested in going meat free to make this overpriced stock continue it’s overpriced rampage. Impossible Foods, a competitor, predicts their revenue will triple this year as they make their way into Burger King’s and Little Caesars. Their burgers, tailor made for Burger King, can’t be stocked quickly enough. It’s an interesting concept and an interesting move into a possible meat free future.
Zoom Video Communications
Zoom ZM 337.71 -11.90 -3.40% broke even for the quarter ending April 2019 on revenue of $122.0 million. The consensus estimate was a loss of $0.02 per share on revenue of $110.1 million.
The company said it expects second quarter earnings of $0.01 to $0.02 per share on revenue of $129.0 million to $130.0 million and fiscal 2020 earnings of $0.02 to $0.03 per share on revenue of $535.0 million to $540.0 million. The current consensus estimate is for break-even results on revenue of $123.3 million for the quarter ending July 31, 2019 and a loss of $0.05 per share on revenue of $525.9 million for the year ending January 31, 2020.
Soooo… these are pretty amazing results and estimates. Making money when Wallstreet thinks you’re going to lose money will definitely make your stock go up! Zoom is up 23% today as investors overreact to the news. Perhaps in a world of Ubers, Lyfts and Pintrests, a profitable company is exciting enough to warrant ridiculous over exuberance.