From IBD. Highlights mine. Shopify Earnings
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Posted On: 07/29/2020 8:39:35 AM
From IBD. Highlights mine.
Shopify Earnings Crush Estimates As E-Commerce Booms Amid Covid-19
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REINHARDT KRAUSE07:54 AM ET 07/29/2020
Shopify earnings, revenue and gross merchandise volume blew past June-quarter analyst estimates on Wednesday as brick-and-mortar businesses pivoted online amid the Covid-19 lockdown. Shopify stock rose, though the e-commerce software giant declined to provide guidance.
Volume 0%
Prior to the Shopify earnings report, the provider of online store platforms late Tuesday filed a mixed registration offering to raise $7.5 billion.
Shopify (SHOP) said it earned $1.05 an adjusted share. Revenue soared 97% to $714 million, the company said.
A year earlier, Shopify earned 10 cents a share on sales of $362 million. Analysts expected Shopify to earn 1 cent a share amid higher investments on sales of $510.8 million for the period ended June 30.
Shopify Earnings: GMV Growth Tops Estimates
Gross merchandise volume from merchant customers jumped 119% to $30.1 billion, handily beating estimates of $19.9 billion.
Shopify stock rose 7% to 1,054 before the market open on the stock market today. Shopify stock is well extended from traditional and alternative buy points and has yet to form a new base.
The Canada-based company said merchant solutions revenue climbed 148% to $517.9 million vs. estimates of $312 million.
Shopify sets up e-commerce websites for small businesses, and partners with others to handle digital payments and shipping. The e-commerce firm has stepped up business lending amid the coronavirus emergency.
More Partnerships For Shopify
Further, Shopify has forged a growing number of partnerships with Walmart (WMT), Facebook (FB), Pinterest, well-funded startup Stripe and others. prior to the Covid-19 outbreak, growth of Shopify Plus had been a bright spot. The premium service targets big brands.
While Shopify might be viewed as a takeover target, it has a governance structure that gives its founder and chief executive super voting rights.
In addition, Shopify is building a U.S. distribution network to store and ship products for its merchant customers. It plans to spend $1 billion over five years and, in the process, take on mighty Amazon.com (AMZN).
Ahead of the Shopify earnings report, the company had a Relative Strength Rating of 98 out of a possible 99, according to IBD Stock Checkup.
Shopify stock hit an all-time intraday high of 1074.98 on July 13.
Shopify Earnings Crush Estimates As E-Commerce Booms Amid Covid-19
FacebookTwitterLinkedInShare Licensing
REINHARDT KRAUSE07:54 AM ET 07/29/2020
Shopify earnings, revenue and gross merchandise volume blew past June-quarter analyst estimates on Wednesday as brick-and-mortar businesses pivoted online amid the Covid-19 lockdown. Shopify stock rose, though the e-commerce software giant declined to provide guidance.
Volume 0%
Prior to the Shopify earnings report, the provider of online store platforms late Tuesday filed a mixed registration offering to raise $7.5 billion.
Shopify (SHOP) said it earned $1.05 an adjusted share. Revenue soared 97% to $714 million, the company said.
A year earlier, Shopify earned 10 cents a share on sales of $362 million. Analysts expected Shopify to earn 1 cent a share amid higher investments on sales of $510.8 million for the period ended June 30.
Shopify Earnings: GMV Growth Tops Estimates
Gross merchandise volume from merchant customers jumped 119% to $30.1 billion, handily beating estimates of $19.9 billion.
Shopify stock rose 7% to 1,054 before the market open on the stock market today. Shopify stock is well extended from traditional and alternative buy points and has yet to form a new base.
The Canada-based company said merchant solutions revenue climbed 148% to $517.9 million vs. estimates of $312 million.
Shopify sets up e-commerce websites for small businesses, and partners with others to handle digital payments and shipping. The e-commerce firm has stepped up business lending amid the coronavirus emergency.
More Partnerships For Shopify
Further, Shopify has forged a growing number of partnerships with Walmart (WMT), Facebook (FB), Pinterest, well-funded startup Stripe and others. prior to the Covid-19 outbreak, growth of Shopify Plus had been a bright spot. The premium service targets big brands.
While Shopify might be viewed as a takeover target, it has a governance structure that gives its founder and chief executive super voting rights.
In addition, Shopify is building a U.S. distribution network to store and ship products for its merchant customers. It plans to spend $1 billion over five years and, in the process, take on mighty Amazon.com (AMZN).
Ahead of the Shopify earnings report, the company had a Relative Strength Rating of 98 out of a possible 99, according to IBD Stock Checkup.
Shopify stock hit an all-time intraday high of 1074.98 on July 13.
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