Vape distributor Greenlane stock rises after revenue beat
Greenlane Holdings Inc. shares rose 6.7% in the extended session Monday after the company reported its second-quarter revenue, which topped consensus estimates. The cannabis paraphernalia and electronic cigarette distribution company reported a second-quarter net loss of $3.2 million versus net income of $230,000 in the year-ago period. Greenlane did not provide a per share earnings number. Revenue rose to $53 million from $40.6 million in the year-ago period. Five analysts polled by FactSet expected second-quarter revenue of $50 million and project $53.6 million in third-quarter sales. Greenlane stock has fallen 46% in the past three months, as the S&P 500 index has gained 1.3%.
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