Aurora Cannabis Reports Strong Q2 2024 Results With Record Positive Adjusted EBITDA
Portfolio Pulse from Joana Scopel
Aurora Cannabis Inc. (NASDAQ:ACB) reported strong Q2 2024 results with a record positive adjusted EBITDA of CAD $3.4 million. The company saw a 30% YoY increase in quarterly net revenue, reaching CAD 63.4 million, primarily driven by a 42% increase in the global medical cannabis segment. The net income for the quarter was CAD $0.3 million, a significant improvement from the net loss of CAD $45.7 million in the same period the previous year. Despite the positive results, ACB shares traded down 5.02% at $0.44 per share after the bell on Thursday.
November 09, 2023 | 10:40 pm
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Despite reporting strong Q2 2024 results, Aurora Cannabis' shares traded down 5.02% after the announcement. The company's net revenue increased by 30% YoY, driven by a 42% increase in the global medical cannabis segment.
Despite the strong financial results, Aurora Cannabis' stock price fell by 5.02% after the announcement. This could be due to a variety of factors, including market sentiment, investor expectations, and broader market trends. However, the strong results could potentially lead to a recovery in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100