Shopify reports US$72.8M third-quarter loss, revenue up 45 per cent

Shopify reports US$72.8M third-quarter loss, revenue up 45 per cent
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OTTAWA — Shopify Inc. reported a loss of US$72.8 million in its latest quarter, while revenue grew 45 per cent compared with a year ago.

The Ottawa-based company, which keeps its books in U.S. dollars, says the loss amounted to 64 cents per share for the quarter ended Sept. 30 compared with a loss of $23.2 million or 22 cents per share a year ago.

Revenue totalled $390.6 million in what was the e-commerce company’s third quarter, up from $270.1 million a year ago.

On an adjusted basis, Shopify says it lost $33.6 million or 29 cents per share in its latest quarter compared with an adjusted profit of $5.8 million or a nickel per share in the same quarter last year.

In its outlook, the company raised its guidance for its full-year revenue to a range of $1.545 billion to $1.555 billion compared with earlier expectations for a range of $1.51 billion to $1.53 billion.

Fourth-quarter revenue is expected to be in a range from $472 million to $482 million.

This report by The Canadian Press was first published Oct. 29, 2019.

Companies in this story: (TSX:SHOP)

The Canadian Press

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