Tilray Gets Greener with Surprise Quarterly Profit
April 07 2022 - 10:12AM
TipRanks
Tilray, Inc. (NASDAQ: TLRY), a Canadian cannabis company, reported
surprise earnings in the third quarter of Fiscal 2022. Meanwhile,
revenues disappointed on unfavorable foreign currency trades and
the soft Canadian cannabis market. Following the mixed
update, TLRY stock rose more than 3% to close at $7.25 on
Wednesday; but shares are sliding today. Results in
Detail Total revenues of $152 million grew 23%
year-over-year but missed analysts' expectations of $156.2 million.
Remarkably, cannabis revenue surged 32% to $55 million, while
beverage alcohol revenue jumped 64% to $20 million. Additionally,
wellness revenue stood at $15 million. Significant growth was
recorded in international cannabis, with revenue surging more than
4,000% year-over-year.
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Tilray Brands (NASDAQ:TLRY)
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