Aurora Stock Falls as Earnings Show Cannabis Company’s Investments Are Still the Big Earners

Marketing costs doubled ahead of Canadian marijuana legalization, but medical pot still the bulk of Aurora’s business.

Massive demand for marijuana and a scramble to capitalize on adult recreational legalization in Canada generated more revenue for Aurora Cannabis Inc. but cost the company millions, according to quarterly results reported Monday.

Aurora ACB, -3.02% ACB, -2.61% stock fell 4.5% to $6.96 during regular trading Monday and was flat in the extended session.

The Canada-based cannabis company reported fiscal first-quarter net earnings that rose to C$105.5 million from C$3.6 million a year ago, and from C$79.9 million in the previous quarter.

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