You are here: Home » Reuters » News
Business Standard

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

Reuters 

(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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

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