Canopy Growth Reports First Quarter Fiscal 2021 Financial Results
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August 10, 2020 2:01 PM EDT
Cowen analyst Vivien Azer raised the price target on Canopy Growth (WEED:CN) (NYSE: CGC) to Cdn$30.00 (from Cdn$27.00) while maintaining an Outperform rating following results.
The analyst commented, "Net revenue of C$110 mm was 20% ahead of our forecast, while an adjusted... More
August 10, 2020 7:14 AM EDT
Canopy Growth (NYSE: CGC) reported Q1 EPS of (Cdn$0.30), versus (Cdn$0.54) reported last year. Revenue for the quarter came in at Cdn$110 million, versus Cdn$90.48 million reported last year.
First Quarter Fiscal 2021 Corporate Financial Highlights
Revenues: Net revenue in Q1 2021 increased by 22% versus Q1 2020 driven by higher medical cannabis sales in Canada and Germany, strong Storz & Bickel ("S&B") vaporizer sales and the benefit of a full quarter of contribution from acquired businesses C3 (acquired in April 2019) and This Works (acquired in May 2019) that were reflected for a full quarter in Q1 2021....
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