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Shopify Drops Despite Crushing Revenue, Profit Estimates

  • Merchandise volume sold through platform more than doubles
  • Shipping, lending services contribute to revenue growth
Shopify App As Stock Market Gain Has Some Analysts Calling A Time Out
Photographer: Andrew Harrer/Bloomberg
Updated on

Shopify Inc. defied market expectations in the third quarter, posting stronger-than-expected results as the global pandemic continued to push shoppers and companies onto online platforms.

Revenue at Canada’s largest company by stock market value nearly doubled to $767.4 million while adjusted earnings were $1.13 per share, more than twice analysts’ estimates of 52 cents.