Canopy Growth Q1 Misses on Revenue, Earnings
Canopy Growth (NYSE: CGC), a bellwether marijuana stock, reported its Q1 results for fiscal 2020 after the market closed today. Although the company showed strong growth in certain fundamental and operational metrics, it fell short of expectations.
For the period, Canopy Growth's gross revenue amounted to just over $103 million Canadian, nearly quadruple the CA$25.9 million it made in the same quarter of fiscal 2019. The company harvested 40,960 kilos of cannabis, well up from the 9,685 in the year-ago quarter.
Net loss deepened to CA$1.28 million, or CA$3.70, from the CA$91,000 shortfall in Q1 2019.
Source Fool.com
