The company reported net income of C$427,812 ($317,380), or 48 cents per share, in the first quarter after reporting a loss of C$1,085, or 1 cent, a year ago. Revenue jumped to C$6.470 million from C$2.945 million a year ago.
Analysts were expecting the company to report a net loss of 3 cents per share on revenue of $6.39 million.
Revenue per gram sold rose slightly to C$5.73 from C$5.67 million.
"In the first quarter of 2019, the business performed in line with our expectations. We continue to stay laser-focused on our strategy of building our supply chain, distribution, intellectual property and brand portfolios," said Mike Gorenstein, CEO of Cronos Group. "We're delighted to have officially closed our transaction with Altria (MO - Get Report) and to kick off a relationship we expect to lead to significant growth and value creation. Altria's investment and the services that Altria will provide to Cronos Group will enhance our financial resources and allow us to expand our product development and commercialization capabilities."
Cronos is down 5.77% to $14.57.
Shares of Tilray (TLRY) are down 1.7%.