(Reuters) – 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.
The company’s revenue rose 46% to $1.12 billion in the third quarter from a year earlier, but still came in below analysts’ average estimate of $1.14 billion, according to Refinitiv data.
(Reporting by Richard Rohan Francis in Bengaluru; Editing by Maju Samuel)
