Marijuana company Cronos Group Inc. (NASDAQ: CRON) on Thursday reported financial results for the third quarter of 2020. Revenues increased by 96%, while earnings declined.
Operating loss widened to $41.2 million from $30.7 million in the third quarter of 2019. Meanwhile, the Canada-based company posted a net income of $94.6 million or $0.19 per share, benefiting from one-off items and other income. It was lower than $591.7 million or $1.62 per share recorded last year.
Reflecting the improvement in the pandemic situation during the quarter, revenue nearly doubled to $11.36 million.
Shares of Cronos gained modestly during Thursday’s pre-market trading, after closing the previous session lower. The stock has lost 17% since the beginning of the year.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
The recent optimism about economic recovery waned slightly this week after jobless claims increased more-than-expected to about 778,000 amid concerns over a resurgence in coronavirus cases. With the healthcare system
Yunji Inc. (NASDAQ: YJ) Q3 2020 earnings call dated Nov. 26, 2020 Corporate Participants: Kaye Liu -- Investor Relations Director Shanglue Xiao -- Chairman of the Board of Directors and Chief Executive Officer Chen
Amazon Web Services (AWS), a leading cloud computing platform, went down in the morning hours of Wednesday. Many applications – including Anchor, Adobe Spark, Flickr, SiriusXM and Roku reported disruption