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Despite the beat, shares of the company tanked as much as 15% in extended trading. The stock, which has soared 321% since its initial public offering, closed Monday up 4.5%.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 6 cents vs. 3 cents expected
- Revenue: $92 million vs. $82.2 million expected
Net sales rose 250% to $92 million, topping expectations of $82.2 million.
Beyond also raised its full year 2019 outlook for revenue. It now expects revenue in a range of $265 million to $275 million, up from a prior forecast of more than $240 million.
The last time that Beyond reported its quarterly results, the company announced a surprise secondary share offering, sending its stock price on a downward spiral. Shares are still up 321% since its initial public offering. Beyond’s lockup period from its initial public offering expires Tuesday, allowing insiders to cash out even more shares.