The Financial Post reports in its Friday edition that Shopify revenue grew in its second quarter as it refocuses on its main e-commerce business. The Post's Bianco Bharti writes that sales increased 31 per cent to $1.7-billion for the period ended June 30 (all figures U.S.). Gross profit rose 27 per cent to $835-million, but the net loss totalled $1.3-billion or $1.02 per share. Gross merchandise volume (GMV), the value of goods sold on the e-commerce platform, grew 17 per cent to $55-billion from the same quarter last year. Revenue and GMV beat expectations by 4 and 3 per cent, ATB Capital analyst Martin Toner said in a note to clients. Shopify president Harley Finkelstein said the company's renewed focus on e-commerce has set it up for growth. He said, "We are already well underway in operating within a new shape of Shopify that can execute with greater speed and agility on a much larger scale to ship products faster, to bring more merchants onto the platform and further supercharge our merchants' growth for years to come." In 2019, Shopify pursued building a logistics arm to compete with Amazon, but did an about-face in May when it announced it would sell Shopify Fulfillment Network to Flexport.