Tilray Inc. TLRY, +3.61% shares gained more than 4% in the extended session Monday after the cannabis producer reported wider-than-expected losses but beat Wall Street revenue estimates. The company reported fourth-quarter net losses of $31 million, or 33 cents a share, compared with losses of $2.9 million, or 4 cents a share, in the year-ago period. Revenue rose to $15.5 million from $5.1 million in the year-ago period. Analysts surveyed by FactSet had estimated losses of 14 cents a share on revenue of $14.1 million. For the first quarter, analysts expect losses of 19 cents a share on sales of $19 million. Tilray stock has fallen 53% in the past six months, with the S&P 500 index SPX, +0.37% falling 2.8%.
Tilray Inc. shares rose $1.96 (+2.71%) in after-hours trading Monday. Year-to-date, TLRY has gained 2.41%, versus a 12.97% rise in the benchmark S&P 500 index during the same period.
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