Shopify touts successful expansion into multilingual markets with first-quarter results

Just a year after Shopify Inc. began a multilingual push into international markets, the Ottawa-based e-commerce platform says more than 100,000 merchants now use its services in languages other than English.

And while it will take time for Shopify’s new markets to mature – in core markets, the company has been mastering product-market fit for 15 years, Mr. Lutke said – the company is approaching them on multiple fronts. It continues to add new languages, such as simplified Chinese and Dutch, while exploring how cultural differences in existing markets might affect product design and payment options.

Investors sent the Toronto-listed shares up almost 8 per cent to $326.68 in the early afternoon. Year-to-date, the stock is up 75 per cent. But Shopify, which has expanded beyond its e-commerce platform in recent years as it services a, including loans and marketing, still posted a net loss of US$24.2-million, or 22 US cents a share, compared with a loss a year earlier of US$15.9-million, or 16 US cents.

Through its merchant cash-advance program, Shopify Capital, the company issued US$87.8-million in loans and advances, up 45 per cent over the prior year. It said more than 40 per cent of eligible North American merchants were using its shipping service last quarter as well. It also launched a new suite of hardware for in-store retailers this month, including a tap-and-chip card reader.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TSX Composite earnings scorecard: How first-quarter results have faredOf the 18 companies in the index that have reported earnings to date for Q1 2019, 27.8 per cent reported above analyst expectations globeinvestor Lots of Fared.... Today
Source: globeandmail - 🏆 5. / 92 Read more »

Precision Drilling reports first-quarter profit, revenue up from year agoThe company says it earned $25-million or eight cents per diluted share for the quarter ended March 31
Source: globeandmail - 🏆 5. / 92 Read more »

Husky Energy reports $328M first-quarter profit, up from $249M a year agoCALGARY — Husky Energy Inc. says it earned $328 million in its latest quarter, up from $248 million a year ago.The company says the profit amounted to 32 cents per share for the three months … Cause they our gouging us at the pump.
Source: VancouverSun - 🏆 49. / 61 Read more »

Volatile trade, inventories boost U.S. growth to 3.2 per cent in first quarterFirst-quarter GDP increases at a 3.2 per cent rate; consumer spending, business investment slow growth globebusiness The biggest contribution came from improvements in net exports. But (consequently?), consumption was weak. A consequence of Trump’s trade wars? Inventories also had a large contribution – that is borrowing from future growth.
Source: globeandmail - 🏆 5. / 92 Read more »