Tilray Shares Surge Following Stellar Quarterly Performance

Tilray’s stock experienced a dramatic upward trajectory after the company unveiled unexpectedly robust quarterly results. The cannabis producer not only reported its first profitable period in years but also surpassed market expectations across multiple key performance indicators.

The company’s revenue reached an all-time high of $209.5 million, outperforming analyst forecasts of $205 million. More impressively, Tilray transformed last year’s quarterly loss of $34.7 million into a net profit of $1.5 million. The firm’s EBITDA showed healthy growth, advancing 9 percent to reach $10.2 million.

Breaking down the revenue streams:
* Cannabis operations generated $64.5 million, representing 5% growth
* Distribution business expanded 9% to $74.0 million
* Beverage division remained stable at $55.7 million

The balance sheet demonstrated continued... Read more...