Canadian pot company Tilray's stock slips after posting a wider-than-expected loss for the second quarter

  • 📰 CNBC
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Tilray posts mixed quarter

Shares of the Canadian pot company slid Tuesday in after-hours trading.'s stock fell after the Canadian cannabis company reported a wider-than-expected loss for the second quarter after the markets closed Tuesday.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Revenue: $45.9 million vs. $41.1 million expectedOn an unadjusted basis, Tilray reported a second-quarter net loss of $35.1 million, or 36 cents per share, wider than its loss during the same quarter last year of $12.8 million, or 17 cents per share.

After excluding for acquisition-related expenses and an inventory accounting charge, Tilray lost 32 cents per share, a steeper loss than the 25 cents per share analysts surveyed by Refinitiv expected. Sales rose 371% to $45.9 million, beating expectations of $41.1 million, which Tilray attributed to its acquisition of hemp food producer Manitoba Harvest and Canada legalizing recreational marijuana last year.

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:

 /  🏆 12. in MY
 

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

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Tilray spikes more than 8% ahead of its second-quarter earningsTilray's stock has tumbled nearly 80% from the all-time highs it reached a few months after its IPO in 2018. They must be disappointed as hell
Source: BusinessInsider - 🏆 729. / 51 Read more »

Tilray spikes more than 8% ahead of its second-quarter earningsTilray's stock has tumbled nearly 80% from the all-time highs it reached a few months after its IPO in 2018. They must be disappointed as hell
Source: BusinessInsider - 🏆 729. / 51 Read more »