OTTAWA, Ontario (AP) _ HEXO Corp. (HEXO) on Monday reported a loss of $3.2 million in its fiscal first quarter.
On a per-share basis, the company said it had a loss of 1 cent.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The cannabis producer posted revenue of $22.3 million in the period. Its adjusted revenue was $22.2 million, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $21.6 million.
The company's shares closed at $1.04. A year ago, they were trading at $2.19.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HEXO at https://www.zacks.com/ap/HEXO
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