Shares of Canopy Growth increased in after-hours trading on the NASDAQ: Canopy drastically reduces losses

After the conclusion of trading on U.S. markets on Wednesday, the cannabis business Canopy Growth released its key numbers for the most recent quarter of the year.

Canopy Growth reported a loss of CAD 0.07 per share for the first quarter of the fiscal 2024 period. As a result, the loss was substantially lower (-5.24 CAD) than it had been during the same quarter the year before. Prior to this, analysts had predicted EPS of -CAD 0.187.
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The business outperformed analysts’ predictions of CAD 90 million in revenue. As a consequence, Canopy reported revenues of CAD 121.112 million, up from CAD 118.667 million during the comparable period in 2016.
In after-hours trading, Canopy Growth’s NASDAQ-listed stock is momentarily trading 1.5 percent higher at $0.4749.

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