Shopify Q2 revenue and adjusted earnings rise well above analyst estimates


OTTAWA — Shopify Inc. did better than analyst estimates in terms of revenue and adjusted earnings during the second quarter.

The Ottawa-based e-commerce company reported that revenue for the three months ended June 30 was nearly $245 million, up from $151.7 million in last year’s second quarter.

Analysts had estimated $234.6 million of revenue, at the high end of the company’s guidance range, according to Thomson Reuters Eikon.

Shopify also reported $2.5 million or two cents per share of adjusted net income, compared with a year-earlier loss of $1.1 million or one cent per share.

Analysts had estimated an adjusted loss of three cents per share in this year’s second quarter.

In terms of generally accepted accounting principles, Shopify had an increased net loss of $24 million or 23 cents per share during the quarter — compared with a year-earlier loss of $14 million or 15 cents per share.



Companies in this story: (TSX:SHOP)

The Canadian Press