November 12, 2019 / 9:12 PM / a month ago

Tilray reports bigger loss as oversupply hits weed prices

Nov 12 (Reuters) - Canada’s Tilray Inc posted a bigger quarterly loss on Tuesday as the weed industry struggles with oversupply issues in its home country, leading to price cuts.

The Nanaimo, British Columbia-based company’s net loss widened to $35.7 million, or 36 cents per share, in the third quarter ended Sept. 30, from $18.7 million, or 20 cents per share, a year earlier.

Revenue jumped five times to $51.1 million. (Reporting by Shariq Khan in Bengaluru; Editing by Arun Koyyur)

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