CRON - Cronos Group EPS misses by $0.35 misses on revenue

Cronos Group (CRON): Q1 GAAP EPS of -$0.44 misses by $0.35.Revenue of $12.61M (+49.6% Y/Y) misses by $4.81M.Net revenue of $12.6 million in Q1 2021 increased by $4.2 million from Q1 2020. The increase year-over-year was primarily driven by continued growth in the adult-use Canadian cannabis market, sales in the Israeli medical cannabis market, and an increase in sales in the U.S. segment driven by new U.S. hemp-derived CBD products introductions, partially offset by strategic price reductions on various adult-use cannabis products in Canada in the second half of 2020.Shares -2.3% PM.Press Release

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Cronos Group EPS misses by $0.35, misses on revenue