Thursday, October 07, 2021 1:00:29 PM
Shares of Tilray TLRY CA: TLRY jumped nearly 5% on Thursday, adding to the stock’s 30.6% gain this year as of the previous close, compared with a rise of 12.5% for the Nasdaq COMP.
The company said its first-quarter net loss increased to $34.6 million, or 8 cents a share, from a loss of $21.7 million, or 9 cents a share in the year-ago period, while net revenue jumped by 43% to $168 million from $117.5 million.
Tilray was expected to report a loss of 6 cents a share on sales of $172.6 million, according to an analyst survey by FactSet.
Looking ahead, Tilray said it’s on track to achieve at least $80 million of cost savings from its merger deal with Aphria.
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