Constellation on Wednesday reported fiscal third-quarter net income of $366.5 million, dragged down by $71.1 million loss on its investment in Canada-based Canopy Growth. The alcoholic beverage company has reported a loss on its stake in Canopy in all three quarters of its fiscal 2020.
Shares of Constellation, which has a market value of $36.2 billion, were still trading up 4% in midday trading WednesdayConstellation invested $4 billion in Canopy in October 2017, but last year, Newlands said that he was not pleased with Canopy's results.
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France Dernières Nouvelles, France Actualités
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