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Cronos Group Q1 Exceeds Analyst Expectations

The company reported a loss of $19.2 million.

I Stock 1203965858

TORONTO (AP) β€” 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.

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