Marketing costs doubled ahead of Canadian marijuana legalization, but medical pot still the bulk of Aurora’s business.
Massive demand for marijuana and a scramble to capitalize on adult recreational legalization in Canada generated more revenue for Aurora Cannabis Inc. but cost the company millions, according to quarterly results reported Monday.
Aurora ACB, -3.02% ACB, -2.61% stock fell 4.5% to $6.96 during regular trading Monday and was flat in the extended session.
The Canada-based cannabis company reported fiscal first-quarter net earnings that rose to C$105.5 million from C$3.6 million a year ago, and from C$79.9 million in the previous quarter.
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