Canada’s Shopify forecasts bigger loss, shares fall

(Reuters) – Canada's Shopify Inc , a maker of software that helps retailers set up and manage online stores, forecast a bigger operating loss for the year, due to higher compensation expenses. The company, however, posted a smaller-than-expected loss for the first quarter as its revenue rose 3.6 percent from the preceding quarter, due to tie-ups with companies such as Facebook Inc . Shopify's U.S.-listed shares, which have risen more than 80 percent since their IPO in May, fell as much as 9 percent on Wednesday.

Original story here.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply