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":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/362\/hexo-reports-q2-loss-revenue-nearly-doubled-compared-with-year-ago\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Hexo reports Q2 loss, revenue nearly doubled compared with year ago","url":"http:\/\/infonews.ca\/in420\/news\/362\/hexo-reports-q2-loss-revenue-nearly-doubled-compared-with-year-ago\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/362\/hexo-reports-q2-loss-revenue-nearly-doubled-compared-with-year-ago\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/2021031808030-60534195ea79fc039b761867jpeg.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/2021031808030-60534195ea79fc039b761867jpeg.jpg"},"articleSection":"business","author":[{"@type":"Person","name":"The Canadian Press"}],"creator":["The Canadian Press"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2021-03-18T05:52:44Z","datePublished":"2021-03-18T05:52:44Z","dateModified":"2021-03-18T12:52:44Z"},"rendered":"