Canopy Growth Stock Is Slipping After Earnings. Revenue Beat Forecasts.

4 months ago 96
PR Distribution

Canopy Growth‘s shares slipped Wednesday even though the Canadian cannabis company reported higher than expected revenue as sales of other products helped offset a year-over-year decline in Canadian sales of marijuana.

The company posted a loss of 28 Canadian cents a share, or 22 U.S. cents, in line with analysts’ predictions, for the three months ended in December. Revenue in the third quarter of Canopy’s fiscal 2022 quarter was C$141 million, above analysts’ expectations for C$135.9 million.

The...

Read Entire Article