OTTAWA – OTTAWA, Ontario (AP) _ Shopify Inc. (SHOP) on Wednesday reported a loss of $8.9 million in its first quarter.
On a per-share basis, the Ottawa, Ontario-based company said it had a loss of 11 cents. Losses, adjusted for stock option expense, were 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The cloud-based commerce company posted revenue of $72.7 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $67.1 million.
For the current quarter ending in July, Shopify said it expects revenue in the range of $79 million to $81 million.
The company expects full-year revenue in the range of $337 million to $347 million.
Shopify shares have risen 19 per cent since the beginning of the year.
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 http://www.zacks.com/ap/SHOP
Keywords: Shopify, Earnings Report