(Bloomberg) -- Shopify Inc. reported first-quarter revenue that topped analysts’ estimates as businesses moved swiftly online during the coronavirus pandemic.Sales grew by 47% to $470 million from the same quarter a year ago, Ottawa-based Shopify said in a statement Wednesday. Analysts had expected about $443 million, according to data compiled by Bloomberg.“We are working as fast as we can to support our merchants by re-tooling our products to help them adapt to this new reality,” Chief Executive Officer Tobi Lutke said in the quarterly release.The key metric of gross merchandise volume, which represents the value of all goods sold on the platform, increased 46% or $5.5 billion to $17.4 billion from a year earlier. Analysts were expecting a 40% increase on a year-over-year basis to $16.9 billion.Adjusted net income rose to $22.3 million, or 19 cents a share in the quarter from 6 cents a year earlier.The New York-listed shares climbed...
The Canadian miner now expects attributable gold production to range between 4.6 million ounces to 5 million ounces compared with the earlier range of 4.8 million ounces to 5.2 million ounces. The government of Papua New Guinea had announced in April that it would not renew a 20-year special mining lease for the Porgera gold mine, which is jointly owned by Barrick and China's Zijin Mining , due to environmental damage and social unrest....
(Bloomberg) -- Shopify Inc. reported first-quarter revenue that topped analysts’ estimates as it brings more businesses online during the coronavirus pandemic.Sales grew by 47% to $470 million from the same quarter a year ago, Ottawa-based Shopify said in a statement Wednesday. Analysts had expected about $443 million, according to data compiled by Bloomberg.“We are working as fast as we can to support our merchants by re-tooling our products to help them adapt to this new reality,” Chief Executive Officer Tobi Lutke said in the quarterly release.The key metric of gross merchandise volume, which represents the value of all goods sold on the platform, increased 46% or $5.5 billion to $17.4 billion from a year earlier. Analysts were expecting a 40% increase on a year-over-year basis to $16.9 billion.The New York-listed shares climbed 4.1% in early trading Wednesday.Investors have continued to pile into the tech stock this year, pushing its market value...
