Canadian pot producer Aurora Cannabis beats revenue estimates




(Adds details on results, background)

Feb 11 (Reuters) - Aurora Cannabis Inc reported a better-than-expected quarterly revenue on Monday, as the company benefited from higher sales after Canada legalized the use of recreational cannabis in October.

The company has been investing heavily amid expectations of the Canadian market opening for cannabis beverages, edibles, and concentrates, as well as expanding internationally.

The company's sales in the Canadian consumer market was C$21.6 million in the second quarter, accounting for about 20 percent of all consumer sales in the country.

Aurora said marijuana sales in the reported quarter rose to 6,999 kg from 1,162 kg.

The Edmonton, Alberta-based company's net revenue rose to C$54.2 million ($40.75 million) from C$11.7 million in quarter, beating the C$51.84 million average of 2 analyst estimates, according to IBES data from Refinitiv.

($1 = 1.3301 Canadian dollars) (Reporting by Shanti S Nair and Debroop Roy in Bengaluru; Editing by Shounak Dasgupta)

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Heading into today, shares of the company had lost 10.84% over the past month, lagging the Medical sector's loss of 5.45% and the S&P 500's gain of 3.16% in that time. Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. In that report, analysts expect ACB to post earnings of -$0.05 per share.

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