: Canopy Growth swings to big loss as revenue falls 19% #FinanceUSA #StockMarketNEWS Canopy Growth Corp. shares fell 6% in premarket trades Friday after the company said it lost C.08 billion (.61
@stockMarketNEWS 12 Days ago
Canopy Growth swings to big loss as revenue falls 19% #FinanceUSA #StockMarketNEWS
Canopy Growth Corp. shares fell 6% in premarket trades Friday after the company said it lost C.08 billion (.61 billion), or .23 a share in its fiscal first quarter, compared to a profit of C2.42 million, or C.02 a share, in the year-ago period. The loss was driven by a non-cash, C.73 billion goodwill impairment. Net revenue dropped 19% to C0.12 million from C6.21 million. Analysts expected Canopy Growth to lose C[CO].29 a share on revenue of C2.7 million, according to FactSet estimates. The Smiths Falls, Ontario-based cannabis company said it held C.2 billion in cash and short-term investments at the end of the quarter. Canopy Growth said it maintained its No. 1 share of combined premium flower and pre-rolled joint segment in Canada.
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