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published in Blogs
May 31, 2022
Canopy Growth (CGC, $4.88) disappoints on Q1 results

Canopy Growth (CGC, $4.88) disappoints on Q1 results

Canopy Growth announced its quarterly earnings results that missed analysts’ expectations.

The cannabis company reported ($1.46) loss per share for the quarter, missing the consensus estimate of ($0.24), Briefing.com reports. Revenue of $126.10 million, down 24.7% from the year-ago quarter, also was below  analyst estimates of $130.34 million.

Cash was at $1.4 billion as of the quarter’s end, versus $1.5 billion in long term debt. The company had a net cash position of $4 billion in 2018 but has since burned through  a lot of it.

Related Tickers: CGC