Giant Canadian Cannabis Company “Canopy Growth” reported fiscal third-quarter net losses of C$121 million, or losses of $C0.38 a share, compared with net income of C$11 million, or C$0.01 a share, in the year-ago period.
Estimates called for a loss of .11 cents per share. They sold 10,102 kg of marijuana versus an Estimate of 12,782 kg...
Revenue rose to C$83.1 million from C$9.8 million in the year-ago period. Canopy sold 10,102 kilograms of pot and equivalents during the fiscal third-quarter. Analysts surveyed by FactSet had estimated losses of C$0.11 a share on revenue of C$81.1 million, excluding excise taxes;
Canopy was expected by analysts to sell 12,782 kilograms of pot with an average price per gram of C$6.58. A company spokeswoman told MarketWatch it released results late into Thursday evening because it wanted to minimize amount of time and the number of news stories prior to the earnings call Friday morning at 8:30 a.m. Eastern time. For the fiscal fourth quarter, analysts model adjusted losses of C$0.19 a share on revenue of C$118.3 million.
Canopy shares closed up 0.2% in the regular session to $46.12.
