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Tilray up in after-hours trading following earnings

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Tilray reported earnings that outperformed estimates, posting $56.6M in revenue and lost $.02 per share vs. revenue estimates of $55.55M and a $.14 loss per share. Yahoo Finance’s joined Yahoo Finance Live to break down the estimates.

Video Transcript

SEANA SMITH: We want to get to some breaking news. Tilray is out with its earnings report. Emily McCormick has those numbers for us. Emily.

EMILY MCCORMICK: Seana, we're taking a look at shares of Tilray climbing in the late trading session after that company did post better than expected fourth quarter sales, as well as bottom line results. Now going through those numbers, fourth quarter revenue came in at $56.6 million. Now that was up 21% year over year and better than the $55.5 million that had been expected.

Now taking a look at the bottom line, adjusted EBITDA was a positive $2.2 million, swinging into positive territory after the company posted a loss of $35.3 million in the fourth quarter of 2019.

Now all of this is to say Tilray really the results here on the back of really aggressive cost cutting measures. CEO Brendan Kennedy saying in a statement, quote, "Over the course of 2020 and despite COVID-19 related challenges, we transformed and strength Tilray, delivered solid full year results, significantly reduced net loss, and achieved our stated goal of delivering breakeven or positive adjusted EBITDA in Q4 2020.

We did so by generating meaningful revenue growth across our core businesses, particularly international, medical, and Canadian adult use in Q4, and reducing costs by $57 million on an annualized basis compared to Q4 of 2019."

Now, taking a look at results, we are seeing-- or shares, rather. We are seeing those climbing by about 8.9% in after hours session, reversing some of the losses that we saw during the regular trading day and adding to a year to date gain of more than 270% for this stock, Seana and Adam.

SEANA SMITH: Emily McCormick, thanks so much. We're going to take a quick break, but when we come back, we'll have the results from Boston Beer. We're back in just two minutes.