Shopify Lost Over $9 Million Last Quarter

Shopify Inc. (SHOP) on Wednesday reported a loss of $9.1 million in its third 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, came to 2 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The cloud-based commerce company posted revenue of $99.6 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $94.9 million.

For the current quarter ending in December, Shopify said it expects revenue in the range of $120 million to $122 million.

The company expects full-year revenue in the range of $379 million to $381 million.

Shopify shares have climbed 58 percent since the beginning of the year. The stock has risen 32 percent in the last 12 months.

–Associated Press