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Cannabis Watch: Aurora Cannabis pot sales and losses growing faster than expected, shares fall

Aurora Cannabis Inc. sales and losses both grew faster than expected in its fiscal third quarter, according to an earnings report released late Tuesday that sent shares about 2% lower in after-hours trading.

Canada-based Aurora ACB, +4.49%ACB, +4.52% reported fiscal third-quarter losses of C$160.1 million, or 16 cents a share, versus losses of C$20 million, or 4 cents a share, in the year-ago period. Aurora grew gross revenue to C$75.2 million, up from C$16.1 million in the year-ago period. After excluding excise taxes paid to the Canadian government, Aurora reported net revenue of C$65.2 million.

Analysts polled by FactSet on average expected fiscal third-quarter adjusted losses of 5 cents a share on gross revenue of C$67.6 million.

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