Canopy Growth Corp T.WEED

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Canopy Growth Corp. CGC, +0.15% WEED, +0.29% reported that it beat revenue expectations well after the end of the extended session late Thursday. The company reported fiscal third-quarter net losses of C$121 million, or losses of $C0.38 a share, compared with net income of C$11 million, or C$0.01 a share, in the year-ago period. Canopy's fiscal third-quarter losses included a mark-market adjustment of convertible senior notes of C$187.5 million, among other items. Without the adjustment, Canopy logged net income attributable to common stockholders of C$67.6 million. Revenue rose to C$83.1 million from C$9.8 million in the year-ago period. Canopy sold 10,102 kilograms of pot and equivalents during the fiscal third-quarter. Analysts surveyed by FactSet had estimated losses of C$0.11 a share on revenue of C$81.1 million, excluding excise taxes; Canopy was expected by analysts to sell 12,782 kilograms of pot with an average price per gram of C$6.58. A company spokeswoman told MarketWatch it released results late into Thursday evening because it wanted to minimize amount of time and the number of news stories prior to the earnings call Friday morning at 8:30 a.m. Eastern time. For the fiscal fourth quarter, analysts model adjusted losses of C$0.19 a share on revenue of C$118.3 million. Canopy shares closed up 0.2% in the regular session to $46.12. Canopy stock has more than doubled in the past year, with the S&P 500 index SPX, -0.27%rising 2% and the ETFMG Alternative Harvest ETF MJ, +0.03% gaining 5%.