Shopify Q2 Earnings: Revenue And EPS Beat, Gross Merchandise Volume Up 22%, Strong Q3 Outlook And More
Portfolio Pulse from Anusuya Lahiri
Shopify Inc (NYSE:SHOP) reported strong Q2 2024 earnings, with revenue and EPS beating analyst estimates. Revenue grew 21% YoY to $2.05 billion, and adjusted EPS was $0.26. Gross merchandise volume increased 22% YoY to $67.2 billion. The company provided a strong Q3 outlook, expecting revenue growth in the low-to-mid-twenties percentage rate YoY.
August 07, 2024 | 1:14 pm
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Shopify reported strong Q2 2024 earnings, with revenue and EPS beating analyst estimates. Revenue grew 21% YoY to $2.05 billion, and adjusted EPS was $0.26. Gross merchandise volume increased 22% YoY to $67.2 billion. The company provided a strong Q3 outlook, expecting revenue growth in the low-to-mid-twenties percentage rate YoY.
Shopify's strong Q2 earnings report, with revenue and EPS beating analyst estimates, and a positive Q3 outlook, is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100