Tilray results beat analyst target, shares rise

Tilray Inc. TLRY, -0.31% on Monday posted a second-quarter net loss attributable to shareholders of $201,000 or zero cents a share, compared to a loss of $99.9 million, or 41 cents a share, in the year-ago period. Revenue increased to $155.15 million from $129.46 million. Analysts expected Tilray to lose 9 cents a share on revenue of $170.5 million, according to a survey by FactSet. The cannabis company is also changing its name to Tilray Brands Inc. Shares of Tilray rose 4.2% in premarket trades.