World news – CA – Canopy Growth stock jumps 13% ahead of marketing after the cannabis company posted a less-than-expected loss


Canopy Growth Corp. IOS-stock listed

It rose 13% in pre-market trade on Monday, after a Canadian cannabis company posted a lower-than-expected loss in the second quarter of its fiscal year and surpassed revenue estimates. Smith Falls, Ontario-based Canopy reported a loss of C $ 32 06 million ($ 24 6 million). ), Or 9 cents a share, for the quarter ended September 30, after an income of 258 Canadian dollars 9 million, or 25 cents a share, in the same period last year, net revenue from indirect taxes reached 135 Canadian dollars 3 million Canadian dollars 6 million. FactSet’s consensus was on a loss. 37 cents a share, revenue of $ 118 CAD, $ 1 million CFO Mike Lee said in a statement: « We have seen another quarter of improvement in our operating expense ratio as our investments in Marketing and R&D are redirected to increase sales. » “Most importantly, our comprehensive review has identified cost savings in the range of $ 150-200 million across cost of goods sold, general and administrative expenses, inventory, and efforts are underway to quickly determine value.” Equities have gained 11% in the year so far. , While the Cannabis ETF
Decreased by 10% and S&P 500
Gained 86%

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Canopy Growth Corporation, Finance, NYSE: CGC, Stock, TSE: WEED, Financial statement, Revenue, Fiscal Year, Investment

World News – CA – Canopy Growth shares up 13 % Pre-marketing after the hemp company posted a loss less than expected



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