Aurora Cannabis sees $137.4M net loss, $75.2M revenue in third quarter

Aurora Cannabis sees $137.4M net loss, $75.2M revenue in third quarter

EDMONTON — Aurora Cannabis Inc. says it incurred a $137.4 million net loss in its third quarter, down from the $1.3 billion it reported the quarter before.

The Edmonton-based cannabis company says the period ended Mar. 31 saw improvement because the quarter before it had a $762.2 million goodwill impairment charge and $210.6 million impairment charge on intangibles and property, plant and equipment.

Its third quarter net loss amounted to $1.37 per share, down from $14.16 the quarter before.

Analysts had expected the company to report 76 cents per share, according to financial markets data firm Refinitiv.

Aurora also says it reached a net revenue of $75.2 million, up from the $56 million it accrued the quarter before.

The numbers were released just after Aurora’s stock surged by 91 cents or almost 11 per cent to reach $9.20.

This report by The Canadian Press was first published May 14, 2020.

Companies in this story: (TSX:ACB)

The Canadian Press

Cannabis