OTTAWA, Ontario (AP) — OTTAWA, Ontario (AP) — Shopify Inc. (SHOP) on Wednesday reported a loss of $1.31 billion in its second quarter.
On a per-share basis, the Ottawa, Ontario-based company said it had a loss of $1.02. Earnings, adjusted for one-time gains and costs, were 14 cents per share.
The results exceeded Wall Street expectations. The average estimate of 30 analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The cloud-based commerce company posted revenue of $1.69 billion in the period, also beating Street forecasts. Thirty-two analysts surveyed by Zacks expected $1.63 billion.
_____
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
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.