Beyond Meat(BYND.US) rose more than 19.6% after-hours trading.

Beyond Meat(BYND.US) shares rose, up more than 19.6% at the time of writing, trading at $6.26. The company reported revenue of $93.2 million, down 8.8% year-over-year, beating the consensus estimate of $87.8 million; gross profit fell from $53.5 million to $34.5 million, or a loss of $0.53 per share.

Margins rose from 2.2% to 14.7% year-over-year, driven by price increases for plant-based burger and sausage. Sales declined 14%, with the decline moderating from 23.9% year-over-year. Margin improved 6.1% year-over-year, driven by wholesale discounts and lower prices for certain products in the U.S. retail and foodservice channels. Within the U.S. retail channel, margin improved 20.5% year-over-year, while it declined 6.3% year-over-year. Guidance was raised, with Beyond Meat now expecting full-year revenue of $320 million to $340 million, up from the prior guidance of $315 million to $345 million.