{"id":83178,"date":"2023-11-10T19:01:21","date_gmt":"2023-11-11T00:01:21","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/canopy-growths-second-quarter-core-loss-narrows-on-easing-costs\/"},"modified":"2023-11-10T19:01:26","modified_gmt":"2023-11-11T00:01:26","slug":"canopy-growths-second-quarter-core-loss-narrows-on-easing-costs","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=83178","title":{"rendered":"Canopy Growth’s second-quarter core loss narrows on easing costs"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. A sign featuring Canopy Growth Corporation’s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture taken January 4, 2018. REUTERS\/Chris Wattie\/File Photo<\/span>
\n<\/i>\n<\/div>\n

By Sourasis Bose<\/p>\n

(Reuters) -Pot producer Canopy Growth <\/span><\/span> (NASDAQ:) reported a smaller second-quarter adjusted core loss on Thursday on the back of cost cuts.<\/p>\n

The company has been grappling with liquidity issues and has taken several steps to turn profitable including job cuts, exits from some international markets, store closures and divestiture of its retail business across Canada.<\/p>\n

Canopy Growth said it cut another C$54 million in costs during the reported quarter. Its operating expenses were down nearly 80% at C$30.43 million.<\/p>\n

Canopy said in September it would seek bankruptcy protection for its sports nutrition products segment BioSteel and lay off 181 employees to rein in costs and focus on cannabis.<\/p>\n

The company’s adjusted core loss narrowed to C$11.9 million ($8.62 million) for the three months ended Sept. 30, compared with a loss of C$56.4 million a year earlier.<\/p>\n

“We have undertaken significant actions to eliminate near-term obligations in terms of debt,” CFO Judy Hong said on a post-earnings call.<\/p>\n

Canopy Growth’s net revenue fell 21% to C$69.6 million in the quarter as the company exited its retail Canadian business.<\/p>\n

The company said it had received a letter from the U.S. Securities and Exchange Commission objecting to its de-consolidation of its U.S. holding company from its financial results.<\/p>\n

The company had created Canopy USA last year to speed up its entry in the United States and buy partners Acreage <\/span><\/span> Holdings (OTC:), Wana Brands and Jetty Extracts.<\/p>\n

($1 = 1.3808 Canadian dollars)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. A sign featuring Canopy Growth Corporation’s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture taken January 4, 2018. REUTERS\/Chris Wattie\/File Photo By Sourasis Bose (Reuters) -Pot producer Canopy Growth (NASDAQ:) reported a smaller second-quarter adjusted core loss on Thursday on the back of cost cuts. The […]<\/p>\n","protected":false},"author":1,"featured_media":6537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-83178","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCanopy Growth's second-quarter core loss narrows on easing costs | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=83178\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canopy Growth's second-quarter core loss narrows on easing costs | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=83178\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-11T00:01:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-11T00:01:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXMPEB0E0CQ_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=83178#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=83178\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Canopy Growth’s second-quarter core loss narrows on easing costs\",\"datePublished\":\"2023-11-11T00:01:21+00:00\",\"dateModified\":\"2023-11-11T00:01:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=83178\"},\"wordCount\":280,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=83178#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=83178\",\"url\":\"https:\/\/ifintechworld.com\/?p=83178\",\"name\":\"Canopy Growth's second-quarter core loss narrows on easing costs | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-11-11T00:01:21+00:00\",\"dateModified\":\"2023-11-11T00:01:26+00:00\",\"description\":\"\u00a9 Reuters. A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=83178#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=83178\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=83178#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canopy Growth’s second-quarter core loss narrows on easing costs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Canopy Growth's second-quarter core loss narrows on easing costs | iFintechWorld","description":"\u00a9 Reuters. A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=83178","og_locale":"en_US","og_type":"article","og_title":"Canopy Growth's second-quarter core loss narrows on easing costs | iFintechWorld","og_description":"\u00a9 Reuters. A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture","og_url":"https:\/\/ifintechworld.com\/?p=83178","og_site_name":"iFintechWorld","article_published_time":"2023-11-11T00:01:21+00:00","article_modified_time":"2023-11-11T00:01:26+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXMPEB0E0CQ_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=83178#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=83178"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Canopy Growth’s second-quarter core loss narrows on easing costs","datePublished":"2023-11-11T00:01:21+00:00","dateModified":"2023-11-11T00:01:26+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=83178"},"wordCount":280,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=83178#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=83178","url":"https:\/\/ifintechworld.com\/?p=83178","name":"Canopy Growth's second-quarter core loss narrows on easing costs | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-11-11T00:01:21+00:00","dateModified":"2023-11-11T00:01:26+00:00","description":"\u00a9 Reuters. A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=83178#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=83178"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=83178#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Canopy Growth’s second-quarter core loss narrows on easing costs"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/83178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83178"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/83178\/revisions"}],"predecessor-version":[{"id":83179,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/83178\/revisions\/83179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/6537"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}