E-commerce firm Shopify (SHOP) on Thursday reported a smaller-than-expected loss for the September quarter while revenue topped consensus estimates. SHOP stock popped on the Shopify earnings report.
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Third-quarter results included recently acquired logistics firm Deliverr. “Results showed SHOP stock is not out of the woods, but is making positive progress,” said Jefferies analyst Samad Samana in a report.
At D.A. Davidson, analyst Tom Forte said in a report: “On first blush, we see Shopify’s sales exceeding expectations for the September quarter as a reflection of its ability to exploit not only the online e-commerce opportunity but also the offline retail one; for example, with its point-of-sale efforts.”
He added: Shopify “may have benefited from the strength in the U.S. dollar versus the Canadian dollar with its revenues in U.S. dollars and many of its operating
expenses in Canadian dollars.”
Canada-based Shopify said it…
