Cannabis company Aphria jumps on surprise profit
U.S.-listed shares of Canadian cannabis company Aphria Inc.
rose 22% in premarket trade Tuesday, after the company posted a profit for its fiscal first quarter, and not the loss that analysts were expecting. Leamington, Ontario-based Aphria said it had net income of C$16.4 million , or 7 cents a share, after net income of C$21.2 million, or 9 cents a share, in the year-earlier period. The FactSet consensus was for a loss of 2 cents a share. Revenue came to C$126.1 million, up from C$13.3 million a year ago, but below the C$131.
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