Aphria Tumbles 18% on Q1 Results
Aphria (NASDAQ: APHA) didn't exactly provide a high for its investors on Thursday. The Canada-based marijuana company released fiscal 2021 first-quarter results that were full of red ink and substantially worse than analyst expectations.
For the quarter, Aphria's net revenue was 145.69 million Canadian dollars ($110.86 million), which was 16% higher on a year-over-year basis but 4% lower than the fiscal fourth-quarter 2020 tally. On the bottom line, the company flipped to a comprehensive loss of nearly CA$5.1 million ($3.9 million) from the year-ago profit of CA$14.8 million ($11.3 million), although the Q4 result -- a loss of over CA$97 million ($74 million) -- was far deeper.
Image source: Getty Images.
Source Fool.com
