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Canopy Growth Reports Better-Than-Expected Quarterly Revenue

Stockhouse Editorial
0 Comments| June 21, 2019


Canadian medical cannabis LP Canopy Growth Corp (T.WEED) reported annual net revenue growth of 191% on Thursday to $226.3 million .

This better-than-expected quarterly result is the latest from the industry to demonstrate its success in pouring money into operations, expanding endeavours and opening stores across the country.

That eclipses IBES data from Refinitiv, where analysts had expected Canopy Growth to report revenue of $92.6 million .

Canopy Growth added that $5 billion investment secured from Constellation Brands is being deployed to accelerate global expansion, along with plans to expand into the United States’ CBD market following passage of the 2018 Farm Bill.




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