Shopify misses revenue estimates as e-commerce rivalry deepens

FILE PHOTO: An employee works at Shopify's headquarters in Ottawa, Ontario, Canada, October 22, 2018. REUTERS/Chris Wattie

(Reuters) -Canada's Shopify Inc's third-quarter revenue fell short of Wall Street estimates, hurt by stiff competition as rivals invest more money to develop their e-commerce platforms.

Although demand for Shopify's software and services remain strong, Adobe Inc and Amazon.com Inc are also working on product developments on their e-commerce platforms to help retailers create and better manage their online stores.