Shopify posts quarterly loss of US$1.2 billion amid shift to 'offline channels'

Shopify Inc. posted a quarterly loss as shopping in brick and mortar stores outpaced online shopping in the second quarter.

as shopping in brick and mortar stores outpaced online shopping in the second quarter.

The company says the loss includes a US$1 billion net unrealized loss on equity and other investments, while the second quarter of 2021 included a roughly US$800 million net unrealized gain from equity and other investments. Revenue for the three months ended June 30 increased 16 per cent to US$1.3 billion, up from US$1.12 billion in the prior year quarter.

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