Shopify’s Stock Plunges 18% On Surprise Loss

The stock of Shopify (SHOP) is down 18% after the Ottawa-based e-commerce company reported a surprise loss for its fiscal first quarter.Shopify announced a loss of $0.21 U.S. per share, which was much worse than a profit of $0.09 U.S. that was the consensus expectation of analysts who cover the company. Revenue in the quarter totaled $1.90 billion U.S., which topped Wall Street estimates of $1.83 billion U.S. Sales rose 23% from a year earlier. The value of orders processed on the company’s e-commerce platform increased more than 20% year over year to $60.90 billion U.S.The financial loss in…