Canopy Growth Posts Q3 Loss, but Sees Profitability in 2022

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Canopy Growth (NASDAQ: CGC) was a stock on fire Tuesday, after the marijuana company published its latest set of quarterly results. 

For its third quarter of fiscal 2021, Canopy Growth booked net revenue of 152.5 million Canadian dollars ($119.5 million), which was 23% higher on a year-over-year basis, and 13% above the second-quarter result. The net loss was CA$829 million ($649.6 million), or CA$2.43 ($1.90) per share. That was deeper than both the CA$110 million ($86 million) shortfall in the year-ago quarter, and the second quarter’s CA$97 million ($76 million) deficit.

Image source: Getty Images.

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