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Shares of Shopify (SHOP)  rose sharply in trading Thursday after the company reported a significant jump in second-quarter revenue and adjusted earnings that topped forecasts.

The Canadian e-commerce software maker reported a second-quarter loss of $28.7 million, or a profit of 14 cents a share on an adjusted basis, while revenue increased 48% to $362 million. Analysts were expecting the company to report earnings 3 cents a share on revenue of $350 million. 

"Our job is to keep innovating on behalf of entrepreneurs so they can compete in an ever-changing retail landscape. Every announcement we made at Unite, especially the Shopify Fulfillment Network, is designed to democratize commerce and make it easier for our merchants to reach for independence," CEO Tobi Lutke said. 

For the full year, the company said it expects revenue between $1.51 billion and $1.53 billion, with third-quarter revenue forecast in the range of $377 million and $382 million. 

The stock was up 5.07% to $334 in trading.

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