Canadian marijuana firm Canopy Growth posts bigger quarterly net loss
Published Nov 14, 2018 06:40
Canadian marijuana firm Canopy Growth posts bigger quarterly net loss
Nov 14 (Reuters) - Canopy Growth WEED.TO on Wednesday posted a bigger quarterly net loss on higher expenses as it spends more in the weeks before full legalisation of recreational use of marijuana in Canada in mid-October.
The Smiths Falls, Ontario-based company said its net loss widened to C$330.6 million ($249.77 million), or C$1.52 per share, in the quarter ended Sept. 30, compared with C$1.6 million, or 1 Canadian cent per share, a year earlier.
Revenue rose to C$23.3 million from C$17.6 million.
($1 = 1.3236 Canadian dollars)
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Written By: Reuters
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