The Globe and Mail reports in its Wednesday edition that Shopify's revenue growth in the third quarter fell slightly short of investors' expectations and its share price dropped in trading on Tuesday. The Globe's Murad Hemmadi writes that the Ottawa e-commerce company reported $3.74-billion in revenue for the three months through September, shy of the analysts' consensus estimate of $3.74-billion (all figures U.S.). That's still up 31.5 per cent year-over-year. Shopify has routinely exceeded revenue projections in previous earnings periods. Its share price opened down 12.8 per cent at $136.21 on Nasdaq, and closed at $142.57, down $13.65. Shopify posted $584-million in profit for the quarter, accounting for $122-million in on-paper losses from the falling valuations of its equity investments. That translated to earnings of 49 cents a share. In an investor call, Shopify president Harley Finkelstein cited the company's expanded free cash flow margins and increased revenues, as well as the addition of customers such as luxury house Pierre Balmain, Estée Lauder's Clinique skincare line and apparel brand Lululemon as big wins. Shopify merchants sold $119.1-billion worth of products in Q3, up 29.5 per cent year-over-year.