Shopify reports smaller loss in fourth quarter

A decorative mailbox covered in stickers is seen at Shopify’s headquarters in Ottawa, Ontario, Canada, October 22, 2018. REUTERS/Chris Wattie

(Reuters) – Shopify Inc’s loss narrowed in the fourth quarter, the online store builder said on Tuesday, as it signed up more businesses and earned higher payment processing fees.

The Canadian company, which helps businesses set up online stores and payments systems, said net loss narrowed to $1.5 million or 1 cent per share in the three months ended Dec. 31, from about $3 million or 3 cents per share a year earlier.

Revenue overall rose to $343.9 million from $222.8 million.

Reporting by Arundhati Sarkar and Shanti S Nair in Bengaluru; Editing by Sai Sachin Ravikumar

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