Home Finance Shopify income beats expectations as infection lockdowns improve merchant signups

Shopify income beats expectations as infection lockdowns improve merchant signups

More merchants are moving their services online

Shopify Inc beat earnings estimates on Wednesday. Andrew Harrer/Bloomberg

Canadian e-commerce company Shopify Inc beat earnings quotes on Wednesday as more users visited its platform after coronavirus-driven lockdowns led merchants to move their businesses online.

The company’s total revenue rose 46.6 percent to US$470 million in the first quarter ended March 31, ahead of analysts’ price quotes of US$4429 million, according to IBES data from Refinitiv.

© Thomson Reuters 2020

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