: Cannabis company Tilray posts narrower loss as revenue climbs 20%

Tilray Brands Inc. TLRY stock was up 3% in premarket trades on Wednesday after the cannabis company reported a narrower fourth-quarter loss that missed Wall Street expectations, while its revenue beat analyst projections. Tilray said its net loss for the three months ended May 31 narrowed to $119.8 million, or 15 cents a share, from a loss of $457.8 million, or 99 cents a share, in the year-ago quarter. Revenue rose by 20% to $184.19 million, a record. Analysts were expecting a loss of 4 cents a share on revenue of $154 million, according to estimates compiled by FactSet.  “Our financial performance is demonstrative of Tilray Brands’ being the leading, most diversified cannabis lifestyle and consumer packaged goods company in the world,” said CEO Irwin Simon.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.