Shopify beats expectations as revenue jumps 71

OTTAWA — Shopify Inc. reported a better-than-expected fourth quarter as its revenue jumped 71 per cent compared with a year ago.The e-commerce company, which keeps its books in U.S. dollars, says it lost $3 million or three cents per share in the last three months of 2017.That compared with a loss of $8.9 million or 10 cents per share a year earlier.Revenue totalled $222.8 million, up from $130.4 million.On an adjusted basis, Shopify says it earned $14.7 million or 15 cents per share for the quarter compared with an adjusted loss of $400,000 or zero cents per share in the fourth quarter of 2016.Analysts on average had expected an adjusted profit of five cents per share and $209.3 million in revenue, according to Thomson Reuters.“That our merchants sold more in the fourth quarter than in all of 2015, achieving one billion dollars of this in just four days, speaks to how far we have come in the past few years,” Shopify chief financial officer Russ Jones said in a statement.“Our leadership role in commerce, together with the scale we have achieved, position us well to invest in our next phase of growth: one marked by expansion of our capabilities upmarket and down, in retail, in our ecosystem, and internationally.” read more

Option for new 46page passport with longer expiry date now available

Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedPassport application services now available in Region 10August 12, 2016In “latest news”New redesigned machine-readable passport to be introduced this yearJanuary 2, 2015In “Business”New machine readable passports to be issuedApril 8, 2014In “Crime” The current 32-page Guyana passportGuyanese business owners and frequent travellers will have the option to choose a 46-page machine-readable passport, at a cost of $10,000 as against the country’s current 32-page passport.Monday, during his Budget 2019 presentation in the National Assembly Minister of Finance, Winston Jordan announced the new introduction.The minister explained that the new passport will reduce both the cost and the time spent to renew the document once it has expired.“[With] the introduction of a 46-page, machine-readable passport, business persons and other frequent travellers would find this new passport both attractive and convenient. It is priced at $10,000. The 32-page passport remains available at the current price of $6,000,” Minister Jordan said.The Department of Public Information (DPI) spoke to persons at the Central Immigration Passport Office, about this new measure.Collin Chung, a Venezuelan by birth with Guyanese parentage, said as a frequent traveller this new introduction is quite convenient for those, who are too busy to undergo such processes and should be embraced.“I think the 46-pages passport would be beneficial because we are entering industrialisation through our exploitation of petroleum in the country, so it would open a lot of doors and break down barriers to expand on tourism within the country.”Expressing her view, Gloria Giddings said that though she is simply visiting the country, she can appreciate how the new measure will benefit the regular air traveller. “This new introduction is beneficial to those who are frequent travellers especially business owners… it would beneficial for them… they would be paying less. Despite it costing a bit more, they will benefit because there are more pages, more time given, so it is definitely a plus for them.”An elated Dennis Garraway said that he is, “so happy that we (Guyana) got that materialised… I know that this would be a great boost for someone like me who travels a lot due to my religious obligations and those who frequently travel, so this would be a great boost.”Guyana’s passport has, recently, increased in value shown on the Henly and Partners Passport Index 2018. The index shows that Guyanese can now travel to 88 countries visa-free/visa-on-arrival, moving the country up four places on the index’s rankings, to 55 in the world. According to the 2017 index, Guyana’s passport allowed Guyanese to travel to 81 countries without requiring a visa or with a visa granted on arrival. read more