Canopy Growth Q4 Loss Sharply Narrows

(RTTNews) - Cannabis company Canopy Growth Corp. (CGC, WEED.TO) reported that its fourth-quarter net loss attributable to the company was C$92.34 million or C$1.03 per share, sharply wider than C$640.08 million or C$12.83 per share in the prior-year quarter.

Net loss from continuing operations for the quarter was $1.06 per share, compared to $11.78 per share in the year-ago quarter.

On average, five analysts polled by Thomson Reuters expected the company to report a loss of C$0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the quarter declined 28 percent to C$83.15 million from C$78.85 million in the same quarter last year. Analysts expected revenues of C$72.31 million for the quarter.

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