Business

Tilray narrows web loss however misses analyst estimates


Tilray Brands Inc.
TLRY,
+30.87%

said Friday its first-quarter loss narrowed to $65.8 million, or 13 cents a share, from a loss of $34.6 million, or 9 cents a share, in the year-ago quarter. Revenue at the cannabis company fell 9% to $153.2 million. Analysts expected Tilray to lose 7 cents a share on revenue of $155.9 million, according to FactSet data. Shares of Tilray rose 3% in premarket trades Friday, adding to gains from the previous session on comments from President Joe Biden to pardon people for cannabis possession and study the re-scheduling of cannabis in the U.S.



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