Canadian company Aurora Cannabis Inc pushed back its profitability timeline to f...
FILE PHOTO: The Logo for Aurora Cannabis Inc., a Canadian licensed cannabis producer, is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., January 8, 2019. REUTERS/Brendan McDermid
Canada became the first G7 country to legalize recreational marijuana late last year but sales have been dampened by supply constraints and higher prices than those on the black market. “Based on our internal forecast, we are very confident that we are going to reach profitability in fiscal 2020.” Aurora’s U.S.-listed shares fell about 10% in after-hours trading after it missed revenue estimates for the quarter due to lower prices. It posted revenue of C$98.9 million , below the C$108.3 million that analysts had expected, according to IBES data from Refinitiv.
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