Cannabis producer Tilray stock rises after losses widen, revenue tops estimates

Tilray Inc. shares gained more than 4% in the extended session Monday after the cannabis producer reported wider-than-expected losses but beat Wall Street revenue estimates. The company reported fourth-quarter net income of $31 million, or 33 cents a share, compared with losses of $2.9 million, or 4 cents a share, in the year-ago period. Revenue rose to $15.5 million from $5.1 million in the year-ago period. Analysts surveyed by FactSet had estimated losses of 14 cents a share on revenue of $14.1 million. For the first quarter, analysts expect losses of 19 cents a share on sales of $19 million. Tilray stock has fallen 53% in the past six months, with the S&P 500 index falling 2.8%.

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