TORONTO (AP) — Cronos Group Inc. (CRON) on Tuesday reported a loss of $19.2 million in its first quarter.
On a per-share basis, the Toronto-based company said it had a loss of 5 cents. Losses, adjusted for non-recurring costs, came to 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The cannabis company posted revenue of $20.1 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $23.3 million.