Shopify Rises as Revenue Beat Signals Worst Days May Be Past
- E-commerce company forecasts full-year operating loss
- CEO Lutke building fulfilment network to expand offerings
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Shopify Inc. gained as the Canadian e-commerce company reported revenue that beat analysts’ expectations after adding more avenues for merchants to sell and promote their products.
Revenue was $1.4 billion in the third quarter, the Ottawa-based company said in a statement Thursday. That exceeded expectations for $1.3 billion, according to the median of analyst estimates compiled by Bloomberg. Shopify reported a loss of 2 cents per share on an adjusted basis, compared with estimates of a seven cent loss.