Shopify
shares are trading sharply higher after the e-commerce software company posted better-than-expected September quarter results.
For the quarter, Shopify (ticker: SHOP) reported revenue of $1.366 billion, up 22% from a year ago and slightly ahead of the Wall Street consensus for $1.34 billion. The company said unfavorable foreign exchange rates reduced revenue growth by about two percentage points. On an adjusted basis, Shopify lost 2 cents a share in the quarter, while the Street consensus forecast was for a loss of 7 cents.
