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Company News

Shopify beats quarterly revenue estimates on higher merchant signups

July 29 (Reuters) - Canadian e-commerce company Shopify Inc beat Wall Street estimates for second-quarter revenue on Wednesday, as more brick-and-mortar retailers listed on its online platform to boost their sales during coronavirus-led lockdowns.

Revenue, for the second quarter ended June 30, rose about 97% to $714.3 million from a year earlier, beating the average analyst expectation of $513.83 million, according to Refinitiv IBES data. (Reporting by Ayanti Bera in Bengaluru; Editing by Shinjini Ganguli)

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