Shopify's Q2 loss widens

Canadian e-commerce company Shopify Inc , on Tuesday reported a bigger quarterly loss compared to a year earlier as it spent more on acquiring new merchants.

The company's net loss widened to $14 million or 15 cents per share in the second quarter ended June 30, from $8.4 million or 10 cents per share, a year earlier.

Revenue surged to $151.7 million from $86.6 million.

Ottawa-based Shopify is growing rapidly but is not yet profitable, as it focuses on investments to garner market share in the burgeoning market for online commerce.