Shopify Stock Pops On Revenue Beat Amid Push Into Enterprise, International Markets
Shopify (SHOP) stock surged after the e-commerce platform provider reported second-quarter gross profit and revenue that topped estimates. The company’s September quarter sales outlook handily beat views amid its expansion into enterprise and international markets.
On the stock market today, Shopify stock rocketed about 21% to near 154 in afternoon trading.
The e-commerce software maker reported Shopify earnings before the market open. On an adjusted basis, Q2 Shopify earnings rose 34% to 35 cents per share, topping estimates of 29 cent profit.
Excluding equity investments, net income rose 16% to $338 million, slightly below estimates of $350 million. Shopify said gross profit rose over 24% to $1.302 billion, topping estimates…
