Shopify (SHOP) surges 15% after topping earnings estimates
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Shopify soars as AI bets, cost controls power return to profit
November 2, 2023 7:09 AM EDTBy Samrhitha A
(Reuters) -Canada's Shopify returned to a profit in the third quarter, driven by strict cost controls and adoption of artificial intelligence to attract more merchants to its services.
Both U.S.- and Canada-listed shares of Shopify surged more than 21% on Thursday, hitting their highest levels since May.
The company has launched AI-powered tools and offerings such as the Shopify Magic suite and app Sidekick to stay ahead in the hyper-competitive... More
