By Adriano Marchese


Shopify Inc. on Thursday swung to a loss in the first quarter as revenue grew just shy of expectations.

The Ottawa-based e-commerce company said loss per share was $11.70, compared with a profit of $9.94 in the first quarter of 2021.

Net loss was $1.47 billion, compared with a profit of $1.26 billion a year ago, citing unrealized and realized loss on our equity and other investments.

Adjusted earnings fell to $0.20 a share, from $2.01. According to FactSet, analysts were expecting $0.64 a share.

Revenue rose to $1.2 billion from $988.6 million, while analysts expected $1.24 billion.

Merchant solutions revenue rose to $858.9 million from $668 million, and subscription solutions came in at $344.8 million, higher than $320.7 million a year ago.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

05-05-22 0803ET