Canopy Growth saw share prices surge on Friday following the announcement of better than expected revenues for the quarter ending on December 31. The company reported net revenue of $83 million, an increase of 282 percent from the previous year.
Canopy also beat industry projections, which hovered around $78.7 million.
However, losses were us for the quarter, at $75.1 million. It was more than $45 million loss many analysts were predicting. The average price per gram was $7.33, which was a drop from the $8.30 it was last year.
Still, according to reports, Canopy Growth appears to have outsold its competitors. Share prices were up over 4 percent on Friday afternoon.
Watch below, as CEO Bruce Linton discusses the results on CNBC’s “Squawk on the Street.”
Canopy Growth co-CEO on Q3 earnings and the future for the cannabis industry from CNBC.