for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

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)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up