Cannabis company Cresco Labs rises on second-quarter revenue beat

Cresco Labs

16/08/2023 15:04

** Shares of cannabis company Cresco Labs  CL.CD  rise 7%,
to C$1.50, break six-day losing streak
    ** Co reports Q2 revenue of $198 mln, beating analysts'
average estimate of $194.8 mln - Refintiv
    ** Co had missed revenue estimates for three of five
previous quarters 
    ** Net loss for the quarter, however, balloons to $43.4 mln,
from $8.3 mln last year
    ** Net loss includes $22 mln of impairment charges - Cresco
    ** Stock down 40% so far this year

 (Reporting by Arshreet Singh in Bengaluru)
 ((Twitter: https://twitter.com/Arshreets))