Tilray Brands' revenue jumps, losses narrow as it pivots away from cannabis
Publishing timestamp: 2023-10-04 17:20:01
Summary
Cannabis company Tilray Brands reported a 15% increase in net revenue for its first-quarter earnings report. The company has been acquiring brands outside of its core business for recreational cannabis in Canada and recently completed its acquisition of eight beer brands from Anheuser-Busch InBev. Tilray is diversifying its portfolio and expanding into the beer industry. The company's cannabis division saw a 20% spike in net revenue, and it narrowed its net loss compared to the previous year. Tilray is focused on growth and expansion, particularly in the U.S. craft beer industry, as it waits for marijuana legalization to happen in key markets.
Sentiment: POSITIVE
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Keywords: molson coors beverage co, business news, earnings, united states, marijuana, food and drink, canada, tilray brands inc, anheuser-busch inbev sa,