Shopify loss widens as expenses soar

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FILE PHOTO: The logo of Shopify is seen outside its headquarters in Ottawa, Ontario, Canada, September 28, 2018. REUTERS/Chris Wattie

(Reuters) – Canadian e-commerce software maker Shopify Inc reported a wider quarterly loss on Tuesday, as costs surged nearly 50 percent.

The company’s net loss rose to $24.1 million, or 22 cents per share, in the first quarter ended March 31 from $15.9 million, or 16 cents per share, a year earlier.

Revenue rose to $320.5 million from $214.3 million.

Total operating expenses jumped to $216.1 million from $144.2 million.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Anil D’Silva



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