) surged as much as 19 per cent Thursday after the company reported earnings that surpassed analyst expectations.
Shopify, which reports its earnings in U.S. dollars, says total sales in the third quarter of 2022 increased 22 per cent year-over-year to $1.4 billion, surpassing the $1.34 billion that analysts were expecting. While the company reported a net loss in the quarter, Shopify president Harley Finklestein says the company remains "operationally disciplined" and focused on returning to profitability.
"We said this year is an investment year, but this is a company that thinks deeply about managing expenses, growing revenue. Ultimately, this is a company that likes to be profitable, and we will get back there."
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