News Formal

Cannabis company Canopy Growth posts smaller-than-expected core loss as costs drop

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 6 sec. here
  • 49 min. at publisher
  • 📊 Quality Score:
  • News: 170%
  • Publisher: 92%

Canadian News News

Canada News,Breaking News Video,Canadian Breaking News

Canopy reported a first-quarter adjusted core loss of $5.3-million, compared with analysts’ average estimate of $7.1-million, according to LSEG data

reported a smaller-than-expected core loss for the first quarter on Friday, helped by lower operating expenses and stronger demand for medical cannabis.Faced with increased competition in an overcrowded market, North American pot companies have been cutting costs and taking measures to reduce inventories to preserve cash and improve their finances.Revenue from its Canadian medical cannabis business rose 20.3 per cent to $18.8-million in the quarter ended June 30.

Canopy Growth also pointed to easing doubts around the company’s ability to continue as a going concern.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US Q2 earnings growth estimate dips to 12.9% Fri from 13.3% ThursThe earnings growth estimate for S&P 500 companies for the second quarter has dipped to 12.9% as of Friday from 13.3% on Thursday, according to LSEG data...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Summer pause: Small business sales growth tapers in June as consumers take a breather on spendingSmall business sales growth slowed in June as consumers took a pause on spending.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »