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Shopify revenue rises with increased online sales, e-commerce boom

Dive Brief:
Shopify, the e-commerce giant, reported revenue more than doubled to $988.6 million for the first quarter this year. Revenue generated from services for online merchants jumped 137% over the period last year to $668 million, the company reported during an earnings call.
Shopify gained market share with respect to total U.S. e-commerce sales to 8.6% in Q1 2021, compared to 5.9% in Q1 2020. Competitors eBay, Apple and Amazon lost e-commerce sales market share in the U.S., according to some estimates.
The Ottawa-based company expects a normalized pace of growth in 2021, as economies open up and some consumer spending returns to offline venues, Shopify s CFO Amy Shapero said during the earnings call. ....

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