Shopify Q2 2024 GAAP EPS $0.13 Beats $0.12 Estimate, Sales $2.00B Miss $2.01B Estimate
Portfolio Pulse from Benzinga Newsdesk
Shopify (NYSE:SHOP) reported Q2 2024 earnings per share (EPS) of $0.13, beating the analyst consensus estimate of $0.12. However, the company's sales of $2.00 billion slightly missed the estimate of $2.01 billion. Despite the miss, sales increased by 18.06% compared to the same period last year.
August 07, 2024 | 11:01 am
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Shopify's Q2 2024 earnings per share (EPS) of $0.13 beat the analyst consensus estimate of $0.12, but sales of $2.00 billion missed the estimate of $2.01 billion. Despite the sales miss, the company showed a significant year-over-year sales increase of 18.06%.
The positive EPS surprise is likely to have a favorable impact on Shopify's stock price in the short term. The slight miss in sales is offset by the strong year-over-year growth, which should also support a positive market reaction.
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