BUZZ-Shopify jumps despite revenue miss

** Canada and U.S.-listed shares of e-commerce giant jump ~7%

** Investors shrug off Q3 revenue and EPS miss betting on Shopify's business model, which is driven primarily by mom-and-pop stores, ahead of the holiday season ** Q3 revenue up 46% as consumer spending normalizes; Rev of $1.12 bln below analysts' estimate of $1.14 bln, as per Refinitiv IBES data

** Gross merchandise volume for Q3 was $41.8 bln, up 35% from a year earlier ** "SHOP continues to successfully execute on its mission of becoming the Retail Operating System of choice for entrepreneurs globally, and recent developments better position the company to play an even more central role in the future of commerce" Evercore ISI analyst Mark Mahaney

** Excluding items, SHOP earns $0.81 per share, below estimates of $1.18 - Refinitiv data ** SHOP says it expects to grow revenue rapidly in 2021, but at lower rate than in 2020

** Stock has gained ~20% YTD

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)