Cronos Group Stock Rises Cautiously on Q4 EPS Beat, Revenue Miss
In a rare occurrence for the marijuana industry, a notable stock in the sector has reported a net profit. This happened Monday with Cronos Group (NASDAQ: CRON), which published its Q4 of fiscal 2019 results.
The quarter saw the company reap just over $7.3 million in revenue, which was a robust 71% over the Q4 2018 figure. This gain was due mainly to the absorption of the Lord Jones cannabidiol (CBD) product line, an acquisition that closed last September. On the bottom line, the company flipped to a profit of nearly $61.6 million ($0.16 per diluted share), from the year-ago loss of $9.7 million.
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Source Fool.com
