Canada's Shopify posts wider loss on higher expenses

Reuters News
Posted: May 04, 2016 7:13 AM

(Reuters) - Canada's Shopify Inc <SH.TO> <SHOP.N>, a maker of software that helps retailers set up and manage online stores, said its loss widened in the first quarter from the fourth quarter as operating expenses rose.

The company, which went public in May last year, said net loss widened to $8.9 million, in the quarter ended March 31, from $6.3 million, in the quarter ended Dec. 31.

On a per-share basis, net loss attributable to shareholders widened to 11 cents from 8 cents.

The Ottawa-based company's revenue rose to $72.7 million from $70.2 million, in the preceding quarter.

(Reporting by Anet Josline Pinto in Bengaluru; Editing by Shounak Dasgupta)