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Shopify: 2Q Earnings Snapshot

August 1, 2019

OTTAWA, Ontario (AP) _ Shopify Inc. (SHOP) on Thursday reported a loss of $28.7 million in its second quarter.

On a per-share basis, the Ottawa, Ontario-based company said it had a loss of 26 cents. Earnings, adjusted for stock option expense, were 14 cents per share.

The results exceeded Wall Street expectations. The average estimate of 24 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The cloud-based commerce company posted revenue of $362 million in the period, also exceeding Street forecasts. Twenty-four analysts surveyed by Zacks expected $350.6 million.

For the current quarter ending in October, Shopify said it expects revenue in the range of $377 million to $382 million.

The company expects full-year revenue in the range of $1.51 billion to $1.53 billion.

Shopify shares have more than doubled since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHOP at https://www.zacks.com/ap/SHOP

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