Shopify Sees Q3 2024 Revenue To Grow At Low-To-Mid-Twenties Percentage On A YoY Basis
Portfolio Pulse from Benzinga Newsdesk
Shopify projects its Q3 2024 revenue to grow at a low-to-mid-twenties percentage on a YoY basis. The company expects a higher gross margin by 50 basis points compared to Q2 2024, GAAP operating expenses to be 41%-42% of revenue, and stock-based compensation to be $120 million. Free cash flow margin is expected to remain similar to Q2 2024, with a double-digit free cash flow margin for the rest of the year.
August 07, 2024 | 11:07 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Shopify projects Q3 2024 revenue growth in the low-to-mid-twenties percentage YoY, with improved gross margin and stable free cash flow margin.
The projected revenue growth and improved gross margin are positive indicators for Shopify's financial health. Stable free cash flow margin and controlled operating expenses further support a positive outlook for the stock in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100