Canada's Shopify posts smaller-than-expected Q3 loss

(Fixes Reuters Instrument Code in paragraph 1)Nov 2 Canadian e-commerce software maker Shopify
Inc reported a smaller-than-expected
quarterly loss on Wednesday as more merchants used its software
platform to set up and manage online stores.Merchants use Shopify’s software platform to design, set up
and manage their stores across sales channels including the web,
mobile devices, social media and brick-and-mortar outlets.The company’s clients include Procter & Gamble Co,
Tesla Motors Inc and the New York Stock Exchange.Revenue from Shopify’s merchant solution business more than
doubled to $49.7 million in the third quarter ended Sept. 30.

Shopify gets a bulk of its merchant solutions revenue from
fees that it charges its clients, or merchants, when their
customer orders are processed through Shopify’s payment system.Revenue in the company’s subscription business, which makes
money from the fees Shopify’s clients pay to use its platform,
rose 68.6 percent to $49.8 million.The company raised its full-year …