India, Nov. 3 -- Shopify Inc. (SHOP,SHOP.TO), a provider of essential internet infrastructure for commerce, reported Tuesday higher profit in its third quarter, with strong growth in revenues.
Looking ahead for the fourth quarter, the company projects revenue to grow at a low-thirties percentage rate on a year-over-year basis. Gross profit dollars are projected to grow at a high-twenties percentage rate from last year.
Meanwhile, the shares were plunging around 16.14 percent in the pre-market activity on Nasdaq, trading at $131.00.
In the third quarter, the company's earnings totaled $462 million or $0.36 per share, higher than $264 million or $0.20 per share, last year.
Adjusted earnings of $638 million or $0.49 per share for the perio...