Tilray Jumps After Hours as Outcomes Prime Forecasts By Investing.com

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© Reuters.

Investing.com – Cannabis company Tilray (NASDAQ:) reported quarterly results that beat on the top and bottom lines Tuesday, sending shares higher postmarket following a regular-session rally.

Tilray reported a first-quarter of 27 cents per share, excluding one-time items. That was a penny narrower than the loss of 28 cents a share expected by analysts surveyed by Investing.com.

Revenue for the company, based in Nanaimo, B.C., Canada, jumped nearly 200% from the year-ago period to $23 million, ahead of expectations of $20.5 million.

The stock rose 6.9% in after-hours trading following a rise of 4.9% during market hours.

Total kilograms sold rose to 3,012 kg from 1,299 kg in the same quarter a year ago. Net selling price per gram dipped to $5.60 from $5.94.

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