Beyond Meat cuts revenue forecast, jobs as plant-based boom fizzles out

The Problem With Wine Bottles

They may be a perfect container for aging wine, but glass bottles contribute enormously to climate change.

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By Eric Asimov

Apple Q3 Results Beat Wall Street View; Shares Up 3%

Shares of Apple Inc. (AAPL) gained over 3% in extended trading session on Thursday after the California-based tech giant reported third-quarter results, with both earnings and revenues beating Wall Street view.

Apple said its third-quarter profit dropped to $19.44 billion or $1.20 per share from $21.74 billion or $1.30 per share last year. Twenty-nine analysts polled by Thomson Reuters had predicted earnings of $1.16 per share for the quarter.

Third-quarter revenues rose 2 percent to $82.96 billion from $81.43 billion last year. Twenty-six analysts estimated revenues of $82.81 billion for the quarter.

The revenue was primarily driven by an increase in the sales of iPhones and services year-over-year. Revenues from iPhones were $40.67 billion, compared to $39.57 billion last year. Apple’s services revenues increased to $19.60 billion from $17.49 billion last year.

“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category,” said Luca Maestri, Apple’s CFO.

Apple’s board of directors has declared a cash dividend of $0.23 per share, which is payable on August 11 to shareholders as of August 8.

AAPL closed Thursday’s trading at $157.35, up $0.56 or 0.36%, on the Nasdaq. The stock further gained $5.09 or 3.23% in the after-hours trading.

‘They/Them’ Review: Scared Straight

A masked ax-murderer runs amok at a gay conversion camp in this flimsy, Kevin Bacon-starring slasher flick.

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By Calum Marsh

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‘Bliss’ Review: Working Girls

Two sex workers fall in love in this low-key L.G.B.T.Q. drama from Germany.

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By Beatrice Loayza

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How Much Watching Time Do You Have This Weekend?

Our TV critic recommends checking out a quirky New Zealand comedy and a terrific Norwegian drama.

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By Margaret Lyons

Sam Ashley, a teen with autism is missing from Thornton

A 13-year-old boy who is autistic is missing, Thornton police said.

Sam Ashley was last seen at about midnight in the 5900 block of East 114th Place, police said Thursday on Twitter. He is described as being 5 feet tall, about 130 pounds, with blond hair and blue eyes. He was likely wearing a solid black T-shirt with short pants, and possibly carrying a green Minecraft-themed backpack.

Anyone who knows of his whereabouts is urged to call 911 immediately.

 

Monster Beverage Corporation Q2 Income Drops, misses estimates

Monster Beverage Corporation (MNST) released a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings totaled $273.4 million, or $0.51 per share. This compares with $403.7 million, or $0.75 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.7 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 13.7% to $1.66 billion from $1.46 billion last year.

Monster Beverage Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $273.4 Mln. vs. $403.7 Mln. last year.
-EPS (Q2): $0.51 vs. $0.75 last year.
-Analyst Estimates: $0.7
-Revenue (Q2): $1.66 Bln vs. $1.46 Bln last year.

Beyond Meat cuts revenue forecast, jobs as plant-based boom fizzles out

Beyond Meat lowered its forecast for 2022 revenue on Thursday and said it would cut several jobs at a time when demand for its plant-based products is fizzling out in the United States.

Shares in the company declined 6% in extended trading.

TickerSecurityLastChangeChange %
BYNDBEYOND MEAT INC.31.39-2.66-7.81%

Analysts have said alternative meat makers should improve their products' taste to attract consumers as a few restaurants including McDonald's Corp have ended U.S. tests of their plant-based menu items without confirming a broader launch.

JOBLESS CLAIMS CLIMB AGAIN, HOVERING NEAR 8-MONTH HIGH

The company's net revenue was $147 million for the second quarter, compared with $149.4 million a year earlier. Analysts polled by Refinitiv on average had expected $149.2 million.

The company forecast 2022 revenue between $470 million and $520 million. It had previously projected revenue for 2022 of $560 million to $620 million.

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"The company is announcing a reduction-in-force affecting approximately 4% of its global workforce," Beyond Meat said in a statement.