October 29, 2019 / 11:11 AM / 17 days ago

Shopify quarterly net loss widens on higher spending

Oct 29 (Reuters) - Canadian e-commerce company Shopify Inc posted a bigger net loss for the third quarter on Tuesday, as it spent more to expand its customer network.

The company’s net loss rose to $72.8 million, or 64 cents per share, in the quarter ended Sept. 30, from a loss of $23.2 million, or 22 cents per share, a year earlier.

Total revenue rose 45% to $390.6 million.

Reporting by Ambhini Aishwarya in Bengaluru; Editing by Shinjini Ganguli

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