Aurora misses estimates
Aurora Cannabis (ACB) reported its Q3 earnings after the market closed on May 14. The company reported a loss per share of $0.16, which missed analysts’ estimate of $0.06. The company’s stock sank almost 2.2% after the earnings release.
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While the company missed its bottom line, it delivered a sales growth of about 20% and also saw an incremental improvement in its gross margins. The gross margins grew to 55% from 54% in the previous quarter, which is more comparable, as that quarter also reflected recreational cannabis sales in Canada.
The company’s increased SG&A (selling, general, and administrative expenses) weighed down the bottom…