Beyond Inc. Faces Hard Times Amidst Steep Stock Drop
From bad to worse
Revenue was up slightly in the quarter to $382.3 million but fell well short of the $389.3 million that Wall Street analysts were expecting. Worse yet, the net loss exploded from $10.3 million a year ago to $73.9 million, or $1.62 per share. On an adjusted basis, the loss was $1.58 per share, worse than the $0.92 loss that analysts expected.
No easy way out
There is still $256.3 million on its balance sheet, but with losses piling up, there's no easy way out for Beyond. The company doesn't seem to have sufficient traction with consumers, and gross margins are on the decline as well.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.