Shopify reports $273M loss in most recent quarter

I’m Kyle Bedding with your top business headlines right now. Shopify says it lost $273,000,000 US in its first quarter. That’s down from a profit of 68 million in the same quarter last year. But the Ottawa based company is reporting its revenue jumped 23% from a year ago to $1.86 billion US. The e-commerce company caters to small and medium sized businesses and is seeing fewer merchants sign up to its platform in the wake of an uncertain economy and tepid customer spending. Reddit shares are soaring after the social media firm floored investors on Tuesday with strong revenue growth and improving profitability. In the first earnings report since its market debut. The company is forecasting that it could post an adjusted profit in the second quarter and its revenue outlook was also far above estimates. Analysts say Reddit’s push to grow its advertising business and content licensing deals with AI focused companies such as Google are paying off. You’ll be paying more to send mail starting this week. Price hikes from Canada Post come on the heels of it announcing another huge annual loss. The Crown corporation is warning it could run out of money for its operations within the year. Analysts say something dramatic has to change and have floated options such as expanding Canada Post mandate to include things like banking and other government services like passports, or moving to delivery every other weekday as an option which can deposit apparently considering obviously talking with unions and leaders and workers as it is developing one of these this option and among many others as well. A lot of that has been is governed by rules that were put in place in 2009 when, you know Netflix was still delivering DV DS in the mail. Thousands of Taylor Swift fans who missed out on her North American concerts or couldn’t afford a ticket or flying to Europe. Swift is kicking off the 18 city Europe leg of the Heiress tour this week. Americans snapped up 20% of the tickets for Swift’s four sold out shows in Paris. Some Canadian fans have grabbed tickets to finding that tighter restrictions on ticket fees and resales in Europe. Cheaper to see her perform abroad. Those are the top business stories right now. For more, you can head to globalnews.ca. I’m Kyle Benning.