OTTAWA, Ontario (AP) — OTTAWA, Ontario (AP) — Shopify Inc. (SHOP) on Tuesday reported a loss of $581 million in its first quarter.
On a per-share basis, the Ottawa, Ontario-based company said it had a loss of 45 cents. Earnings, adjusted for one-time gains and costs, came to 36 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The cloud-based commerce company posted revenue of $3.17 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $3.08 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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