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Shopify reports slower growth in vendor sales, shares fall 7 percent


(Reuters) - Shopify Inc beat analysts' estimates for quarterly profit on Tuesday, but a slowing rate of growth in total sales by vendors using the ecommerce company's software sent its U.S.-listed shares down about 7 percent before the bell. Shopify said gross merchandising volume rose just 54 percent compared with a 65 percent jump in the same period a year earlier.Shopify, whose software enables merchants to sell everything from infant formula to cosmetics online, has been investing heavily to boost its market share by introducing augmented reality (AR) and virtual reality based ...

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First Published: Tue, February 12 2019. 18:02 IST