Beyond Meat revenue plummets in the second quarter due to flagging US demand

Plant-based meat maker Beyond Meat said its revenue plunged 30.5% in the second quarter as consumer demand for its burgers, sausages and other products fell despite price cuts. The El Segundo, California-based company lowered its full-year revenue forecast as a result. For the April-June period, Beyond Meat reported revenue of $102.1 million. That was lower than the $108.7 million Wall Street forecast, according to analysts polled by FactSet. U.S. revenue dropped 40% as both retail and food service sales weakened. International revenue was down 8.7%.