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Canadian weed producer Canopy Growth posts 123 percent jump in third-quarter revenue

Reuters

By Nichola Saminather

TORONTO (Reuters) - Canada's biggest marijuana producer Canopy Growth (Toronto:WEED.TO - News) said on Wednesday its third-quarter revenue jumped 123 percent to C$21.7 million in the three months ended Dec. 30.

The Smiths Falls, Ontario-based company reported net profit shrank to C$11 million, or C$0.01 per share in the three months ended Dec. 30, compared with C$3 million, or C$0.02 a share, a year earlier. The average analyst forecast was for a loss of $7.1 million, or C$0.05 a share.

(Reporting By Nichola SaminatherEditing by Chizu Nomiyama)