Categories AlphaGraphs, Consumer, Earnings
Infographic: Everything you need to know about Aurora Cannabis’ (ACB) Q3 earnings
Aurora Cannabis, Inc. (NYSE: ACB) on Thursday reported a narrower loss for the third quarter of 2022. The company’s revenues dropped 9% year-over-year during the quarter.
The Canada-based medical marijuana company reported an adjusted EBITDA loss of C$12.3 million for the third quarter, compared to a loss of C$20.9 million in the prior-year quarter. Total revenues decreased 9% annually to C$50.4 million. Medical marijuana sales increased 8%, while consumer marijuana sales declined 43%.
“We continue to steer our differentiated global cannabis business towards long-term shareholder value creation. This is being accomplished through a sole focus on the most profitable growth opportunities, rationalization of our Canadian cost structure, and disciplined use of capital. Our plan is working and we remain firmly on track to achieving a positive Adjusted EBITDA run rate by the first half of fiscal 2023., ” said Miguel Martin, chief executive officer of Aurora Cannabis.
Read management/analysts’ comments on Aurora’s Q3 results
Shares of Aurora Cannabis traded slightly higher early Friday on the Nasdaq stock market, after closing the previous session higher. It has lost about 58% since the beginning of the year.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates
Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core
AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results
American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's