Tilray widens net loss and misses analyst estimates, shares fall

Tilray Brands Inc.
TLRY,
-18.72%
closed lower by 18.7% on Friday after the cannabis company said its first-quarter loss widened to $65.8 million, or 13 cents a share, from a loss of $34.6 million, or 9 cents a share, in the year-ago quarter. Revenue at the cannabis company fell 9% to $153.2 million. Analysts expected Tilray to lose 7 cents a share on revenue of $155.9 million, according to FactSet data. (An earlier version of this Pulse mischaracterized Tilray’s third-quarter loss).