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Tilray Swings To Profit In Q3

Cannabis cultivator Tilray, Inc. (TLRY, TLRY.TO) reported Wednesday a third-quarter net income attributable to stockholders of Tilray of $43.19 million or $0.09 per share, compared to a net loss of $273.52 million or $1.03 per share in the prior-year quarter.

Net revenue for the quarter increased 23 percent to $151.87 million from $123.90 million in the same quarter last year, primarily driven by 32 percent growth in net cannabis revenue to $55 million, 64 percent growth in beverage alcohol revenue of $20 million and wellness revenue of $15 million.

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