June 21, 2019 / 10:46 AM / 4 months ago

CORRECTED-BUZZ-Canopy Growth falls on bigger-than-expected loss

(Corrects 2nd bullet to say “Q4”, not “Q1”)

** U.S.-listed shares of Canadian cannabis producer fall 5.8% to $41.18 in premarket trading

** Co’s Q4 net loss widened to 98 Canadian cents/shr and was bigger than the analysts’ estimates of a 30 Canadian cents/shr loss, according to IBES data from Refinitiv

** Says operating expenses rose more than four-fold to C$242.9 mln

** However, CGC posted a more than four-fold rise in revenue, beating estimates

** Average selling price of cannabis per gram fell to C$7.49 from C$8.43 a year earlier - CGC

** Upto Thursday’s close, stock has risen ~63% this year (Reporting by Debroop Roy in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below