Investors were eagerly awaiting Canopy Growth’s numbers. The cannabis company opens its books after hours on Thursday.
In the second quarter of the 2024 financial year, Canopy Growth recorded a loss of CAD 11.9 million, after a loss of CAD 56.4 million in the same period of the previous year.
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At the same time, experts had expected sales of CAD 73.5 million, but the company actually generated sales of CAD 69.6 million in the reporting period. This was less than in the same period last year, when revenues of CAD 117.9 million were generated. According to the company, this development was due to the fact that Canopy gave up its Canadian retail business.
“We have taken significant actions to eliminate short-term debt obligations,” CFO Judy Hong said in a post-earnings conference call.
Canopy Growth shares were slightly lower in after-hours trading on the NASDAQ, losing 0.76 percent to $0.5190.
Editorial team finanzen.net
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