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Cronos Reports $20.2M Loss

The company's revenue fell short of forecasts.

I Stock 1289949689

Cronos Group on Tuesday reported a loss of $20.2 million in its second quarter.

The Toronto-based company said it had a loss of 5 cents per share. Losses, adjusted for non-recurring gains, were 6 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of 6 cents per share.

The cannabis company posted revenue of $23.1 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $27.7 million.

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