3 Reasons Investors Weren't Impressed With Aphria Stock's Q4 Results
On July 29, Canadian cannabis producer Aphria (NASDAQ: APHA) released its fourth-quarter results. Unfortunately, they didn't impress investors. Although the company was happy with its performance, the same can't be said for Wall Street, as the stock's been falling since the release of the results. On earnings day alone, the stock fell by a mammoth 19%.
The quarterly performance wasn't abysmal -- Aphria continued to show progress and increase its sales. But there were some troubling numbers that likely didn't sit well with shareholders. Here are three likely reasons the results weren't what investors were hoping for.
In Q4, Aphria's total net revenue came in at 152.2 million Canadian dollars. That was an 18% improvement from the prior-year period, during which the cannabis producer brought in CA$128.6 million. However, it was only a 5% improvement from the third quarter, in which net revenue totaled CA$144.4 million.
Source Fool.com