Aurora Cannabis Stock Price Soars on Positive Earnings Report

Positive Earnings Beat Expectations

Aurora Cannabis Inc. (ACB) reported strong financial results for its fiscal fourth quarter, beating analyst expectations. The company reported revenue of $72.1 million, up 15% year-over-year, and adjusted EBITDA of $11.4 million, up 27% year-over-year.

Focus on International Expansion

Aurora Cannabis attributed its strong performance to its focus on international expansion. The company recently announced a partnership with Creso Pharma to distribute its products in Australia and New Zealand. Aurora Cannabis also announced plans to acquire ICC Labs, a leading cannabis producer in Latin America.

Positive Outlook for Future Growth

Aurora Cannabis management expressed optimism about the company's future growth prospects. The company expects to continue to expand its international presence and to benefit from the growing demand for cannabis products. Aurora Cannabis also plans to invest in new product development and to expand its production capacity.

Stock Price Surges

Investors reacted positively to Aurora Cannabis's strong earnings report. The company's stock price surged by over 10% in pre-market trading on Thursday, August 11, 2022.