Shopify beat estimates on the top and bottom lines. It also offered strong guidance for the third quarter.
While the top- and bottom-line numbers for Shopify (SHOP) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Shopify beat expectations for the second quarter and gave an upbeat forecast for the current period. The company said it saw strong demand for its services, which include software for online merchants, despite "a mixed consumer spend environment.
Shopify (SHOP) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.14 per share a year ago.
Shopify stock is up 17% after the company reported Q2 earnings.
Shares in Shopify Inc (TSX:SH., NYSE:SHOP) were up 17% premarket after earnings surpassed Street estimates made ahead of its quarterlies.
That translated into upbeat financial results for the latest quarter, as Shopify CA:SHOP SHOP grew gross merchandise volume by 22% to $67.2 billion, which was above the $65.8 billion consensus view.
Shopify's (SHOP) second-quarter 2024 performance is expected to reflect benefits from the growing adoption of merchant-friendly solutions.
Shopify's stock price has toppled 65% from its all-time high. It's still expected to go up more than 20% annually over the next three years.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Shopify (SHOP), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.
Shopify (SHOP) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Three stocks with a combination of favorable Zacks Rank, a possible earnings beat and solid price potential are: TWLO, SHOP, TTWO.