Shopify misses revenue estimates as e-commerce rivalry deepens

Shopify misses revenue estimates as e-commerce rivalry deepens

28/10/2021 2:26:00 PM

Shopify misses revenue estimates as e-commerce rivalry deepens

:Canada's Shopify Inc's third-quarter revenue fell short of Wall Street estimates, hurt by stiff competition as rivals invest more money to develop their e-commerce platforms. Although demand for Shopify's software and services remain strong, Adobe Inc and Amazon.com Inc are also working on product developmen

:Canada's Shopify Inc's third-quarter revenue fell short of Wall Street estimates, hurt by stiff competition as rivals invest more money to develop their e-commerce platforms.Although demand for Shopify's software and services remain strong, Adobe Inc and Amazon.com Inc are also working on product developments on their e-commerce platforms to help retailers create and better manage their online stores.

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Net income rose to US$1.15 billion, or US$9 per share, from about US$191.1 million, or US$1.54 per share, a year earlier.Gross merchandise volume, a widely watched figure for the e-commerce industry's performance, stood at US$41.8 billion in the quarter, up 35per cent.

U.S-listed shares of the company fell about 4.5per cent in premarket trading.(Reporting by Richard Rohan Francis in Bengaluru; Editing by Maju Samuel and Krishna Chandra Eluri) Read more: CNA »

Singapore-Malaysia land VTL: Up to 3,000 travellers allowed daily in 1st phase, via designated buses

SINGAPORE — Singapore and Malaysia will launch a vaccinated travel lane (VTL) by land on Monday (Nov 29) via the Causeway, but under the first phase of the scheme, travellers must be citizens, permanent residents or long-term pass holders of the country that they are entering.

China calls on e-commerce sites to curb spam ahead of Singles' Day shopping festSHANGHAI : China's Ministry of Industry and Information Technology (MIIT), a major industry regulator, has called on e-commerce sites to curb text-message marketing ahead of the country's annual Nov. 11 Singles' Day shopping festival.MIIT, in a social media post late on Wednesday, said it held a meeting o

China calls on e-commerce sites to curb spam ahead of Singles' Day shopping festSHANGHAI: China\u0027s Ministry of Industry and Information Technology (MIIT), a major industry regulator, has called on e-commerce sites to curb text message marketing ahead of the country\u0027s annual Nov 11 Singles\u0027 Day shopping festival. MIIT, in a social media post late on Wednesday (Oct 27), said it held

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