OTTAWA – Hexo Corp. reported a loss of $20.8 million in its latest quarter as its revenue nearly doubled compared with a year earlier.<\/p>\n<\/p>\n
The cannabis company says its loss amounted to 17 cents per diluted share for the quarter ended Jan. 31.<\/p>\n<\/p>\n
The result compared with a loss of $298.2 million or $4.52 per diluted share a year earlier when the company took large one-time charges related to its goodwill and intangible assets.<\/p>\n<\/p>\n
Net revenue in what was Hexo’s second quarter totalled nearly $32.9 million, up from $17 million in the same quarter a year earlier.<\/p>\n<\/p>\n
Last month, Hexo announced a deal to buy competitor Zenabis Global Inc. in $235-million deal that will give the cannabis company a European foothold and strengthen its domestic business.<\/p>\n<\/p>\n
Hexo CEO and co-founder Sebastien St-Louis says the Zenabis deal will help speed domestic and international growth. <\/p>\n<\/p>\n
This report by The Canadian Press was first published March 18, 2021.<\/p>\n<\/p>\n
Companies in this story: (TSX:HEXO)<\/p>\n<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
OTTAWA – Hexo Corp. reported a loss of $20.8 million in its latest quarter as its revenue nearly doubled compared with a year earlier. The cannabis company says its loss amounted to 17 cents per diluted share for the quarter ended Jan. 31. The result compared with a loss of $298.2 million or $4.52 per […]<\/p>\n","protected":false},"author":522,"featured_media":1712,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"","published":"2021-03-17T22:52:44","updated":"","_infotelid":"CP1848963139","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[383,2],"tags":[],"region":[309,310,311,312],"class_list":["post-362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in420","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/2021031808030-60534195ea79fc039b761867jpeg.jpg","post_modified":"2021-03-18T05:52:44","post_modified_gmt":"2021-03-18T12:52:44","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/522"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=362"}],"version-history":[{"count":3,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/362\/revisions"}],"predecessor-version":[{"id":3853,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/362\/revisions\/3853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1712"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=362"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}