Aurora Cannabis, Inc. (NYSE: ACB) reported a narrower loss for the third quarter of 2020, aided by a 16% growth in revenues. The company’s stock gained during Thursday’s after-hours trading session, following the announcement.
The Canada-based medical marijuana company said its net loss narrowed to C$137.39 million or C$1.37 per share in the March-quarter from C$158.35 million or C$1.89 per share in the same period of last year. The improvement in the bottom-line performance reflects a 16% increase in revenues to C$75.52 million.
Shares of Aurora Cannabis closed Thursday’s regular session higher in the New York Stock Exchange and continued to gain during the extended trading session. The stock, which has been on a downward spiral for several months, lost 73% since the beginning of the year.
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