“The #1 Tech Opportunity of the Decade”

On February 8th, Luke Lango is making his biggest call of 2023. He’s recommending technology (that you’ve likely never heard of) that could help 122 million people… And mint up to $3 trillion in wealth.

Wed, February 8 at 8:00PM ET

Aurora Cannabis Earnings: ACB Stock Gains on Wider Q3 Loss, Sales Miss

Aurora Cannabis (NYSE:ACB) reported its latest quarterly earnings results late today, bringing in a loss that was wider than expected and wider than it was a year ago, while revenue grew considerably, yet this amount was below Wall Street’s expectations.

Aurora Cannabis earningsThe Canada-based marijuana business announced that for its third quarter of its fiscal 2019, it brought in losses of C$160.1 million, or 16 cents per share, which was eight times as wide as the company’s year-ago losses of C$20 million, or 4 cents per share. Analysts were calling for the company to amass adjusted losses of 5 cents per share, according to data compiled by FactSet.

Aurora Cannabis added that it brought in gross revenue of C$75.2 million for the period, 367% higher than the company’s loss of C$16.1 million from the year-ago quarter. After excluding excise taxes paid to the Canadian government, the company posted net revenue of C$65.2 million.

The Wall Street consensus estimate called for the business to bring in net revenue of C$67.6 million. For its fourth quarter of the fiscal year, analysts predict adjusted losses of 3 cents per share and net revenue of C$119.4 million. Aurora Cannabis added that it los C$77.6 million from operations, more than double its amount from the year-ago period.

ACB stock is up roughly 3.6% following the company’s quarterly earnings results. Shares then fell about 2% after the bell.

Article printed from InvestorPlace Media, https://investorplace.com/2019/05/aurora-cannabis-earnings-acb-stock-2/.

©2023 InvestorPlace Media, LLC