OTTAWA, Ontario (AP) — OTTAWA, Ontario (AP) — Shopify Inc. (SHOP) on Thursday reported first-quarter earnings of $68 million.
The Ottawa, Ontario-based company said it had profit of 5 cents per share. Earnings, adjusted for one-time gains and costs, came to 1 cent per share.
The results topped Wall Street expectations. The average estimate of 32 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The cloud-based commerce company posted revenue of $1.51 billion in the period, also topping Street forecasts. Thirty-seven analysts surveyed by Zacks expected $1.44 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHOP at https://www.zacks.com/ap/SHOP
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