Shopify Inc. passed Royal Bank of Canada Wednesday afternoon to become the most valuable public company in Canada, after the company reported first-quarter earnings and investors got a good look at how the COVID-19 pandemic is impacting the business.
The key takeaway from the earnings numbers was that Shopify remains an essential service for the million merchants that use the company's e-commerce platform, and chief executive Tobi Lutke emphasized that point speaking to analysts on the earnings call Wednesday.
While you're here, how about this:
Shopify Announces First-Quarter 2020 Financial Results | Business Wire
"The vast majority of people are employed by small businesses, and they struggle the most during a crisis," said Tobi Lütke, Shopify's CEO. "The spread of COVID-19 is going to be a tough time for all entrepreneurs. We are working as fast as we can to support our merchants by re-tooling our products to help them adapt to this new reality. Our goal is that, because Shopify exists, more entrepreneurs and small businesses will get through this."
Shopify Earnings Top Estimates As Brick And Mortar Merchants Pivot Online | Investor's
Shopify earnings topped first-quarter analyst estimates on Wednesday as gross merchandise volume also came in above views amid the global coronavirus lockdown. The earnings report cemented views that brick-and-mortar businesses are pivoting online, boosting Shopify stock.
Shares in Shopify ( SHOP ) gained 6.9% to close at 733.53 on the stock market today Shopify stock is well extended from a traditional cup-base buy point . But on Tuesday, SHOP stock cleared an alternate entry of 665.84.
Shopify stock gains after company says volume growth accelerated in April -
Walt Disney Co.'s latest earnings prompted more questions than answers and left many dreaming about better days that could come years down the line.
Many things are taking place:
New Stores Created On Shopify Jump 62 Pct | PYMNTS.com
As the coronavirus pandemic speeds up consumers’ transitions to online shopping, Shopify reported that new stores created on the platform jumped 62 percent from March 13 to April 24 compared to the six weeks before. According to the company, the growth was powered by "the shift of commerce to online as well as by the extension of the free trial period on standard plans from 14 days to 90 days," according to an announcement .
Shopify first-quarter loss widens, sees spike in new store creation | Fox Business
Shopify COO Harley Finkelstein discusses how robots, called 'Chucks', expedite the way his company operates.
Shopify Inc . on Wednesday reported a widened first-quarter loss and said new stores created on its platform grew between mid-March and late-April.
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The Ottawa, Ontario-based e-commerce company recorded a quarterly loss of $31.4 million , or 27 cents a share, compared with a loss of $24.2 million, or 22 cents, for the same period last year.
Stock Market Today With Jim Cramer: Shopify Stock Surges - TheStreet
TheStreet's Katherine Ross discussed today's breaking news in the stock market on StreetLightning with Jim Cramer. Cramer discusses why he is buying Shopify stock, the signs telling him to buy more CVS stock, and what makes Take-Two stock his gaming stock pick over Activision Blizzard and EA.
Shopify (SHOP) Q1 Earnings and Revenues Top Estimates
Shopify (SHOP) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of a loss of $0.18 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 205.56%. A quarter ago, it was expected that this cloud-based commerce company would post earnings of $0.23 per share when it actually produced earnings of $0.43, delivering a surprise of 86.96%.
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