Shopify Inc (US) (NYSE:SHOP) stock took a hit today despite reporting strong revenue growth in the third quarter of 2017.
Shopify Inc (US) reported revenue of $171.46 million during its third quarter of 2017. This is a 72% increase over its revenue of $99.58 million reported in the third quarter of 2016. It also beat out Wall Street’s revenue estimate for the quarter, which was $165.63 million.
The online marketplace reports that its operating loss for the third quarter of the year was $12.7 million. Shopify Inc (US) notes that this is larger than its operating loss of $9.5 million from the same time last year, which was likely behind some of the drop for SHOP stock today.
During the third quarter of 2017, Shopify Inc (US) reported a net loss of $9.38 million. This is a larger net loss than the $9.12 million that was reported in the same period of the year prior and wasn’t good news for SHOP stock.
Earnings per share reported by Shopify Inc (US) in the third quarter of the year was 5 cents. This is up from its loss per share of 2 cents from the third quarter of the previous year. It also came in above Wall Street’s loss per share estimate of one penny for the quarter.
Shopify Inc (US)’s guidance for the full year of 2017 includes revenue that will range from $656 million to $658 million. Analysts are expecting SHOP to report revenue of $648.33 million during the quarter.
SHOP stock was down 9% as of Tuesday morning, but is up 132% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.