Shopify: Q1 Earnings Snapshot
OTTAWA, Ontario (AP) _ Shopify Inc. (SHOP) on Thursday reported a loss of $1.47 billion in its first quarter.
The Ottawa, Ontario-based company said it had a loss of $11.70 per share. Earnings, adjusted for one-time gains and costs, came to 20 cents per share.
The results did not meet Wall Street expectations. The average estimate of 32 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The cloud-based commerce company posted revenue of $1.2 billion in the period, also missing Street forecasts. Thirty-four analysts surveyed by Zacks expected $1.24 billion.