Internet, Everywhere--(Newsfile Corp. - April 28, 2021) - Shopify Inc. (NYSE: SHOP) (TSX: SHOP), a leading global commerce company, announced today strong financial results for the quarter ended March 31, 2021.
"More entrepreneurs around the world are choosing Shopify to launch and grow their businesses, and for good reason," said Harley Finkelstein, Shopify's President. "Our singular focus is on making entrepreneurship easier, and making it easier for entrepreneurs to succeed.
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Shopify Turns to 'Harry Potter' to Show Heft Ahead of Earnings
(Bloomberg) -- Shopify Inc. underpins a global business ecosystem whose economic impact was worth more than $307 billion in 2020, according to a new report commissioned by the e-commerce giant.
Shopify released its annual Economic Impact Report on Tuesday, one day before the release of first-quarter earnings that may show signs that growth is starting to slow for Canada's largest company. The study, conducted by Deloitte, measures the effect of direct spending by the e-commerce company's merchants, induced household spending by their employees and indirect spending by businesses in their supply chains.
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Shopify revenue more than doubles on online boom | Reuters
The logo of Shopify is seen outside its headquarters in Ottawa, Ontario, Canada, September 28, 2018. REUTERS/Chris Wattie
The company was a clear pandemic winner as pandemic-induced lockdowns fueled a swift to online purchases, with revenue jumping 86% last year from 2019 and making it Canada's most valuable firm.
U.S.-listed shares of the Ottawa-based company, which provides infrastructure for retailers to set up their stores online, rose more than 3% in pre-market trading.
Shopify Surges as Merchant Sales Growth Fuels Profit Beat - TheStreet
Shopify reported net income of $1.26 billion, or $9.94 a share, a swing from a year-earlier loss of $31.4 million, or 27 cents a share.
Adjusted net income came to $2.01 a share, while the FactSet consensus forecast called for income of 74 cents.
Revenue totaled $988.6 million, up 110% from a year ago, and beat analysts' consensus estimates of $859 million.
Stocks making the biggest moves in the premarket: Alphabet, Spotify, Pinterest, Shopify & more
Alphabet (GOOGL) – Alphabet reported record profit for the second consecutive quarter, earnings of $26.29 per share compared to a consensus estimate of $15.82 a share. Revenue beat forecasts, and the Google parent also announced a $50 billion share buyback. Shares jumped 5.1% premarket.
Spotify (SPOT) – The music streaming service logged a smaller-than-expected loss for its latest quarter, as well as beating revenue estimates and reporting a 24% increase in monthly active users. Its projected range for the current quarter's operating loss falls largely below analyst forecasts, however, and the shares skidded 7.8% in the premarket.
Braze Announces Shopify Integration to Help Brands Navigate Customer Engagement in 'Next Normal'
"While consumer spending is predicted to recover, preferences and behaviors have evolved and form the foundation of the 'next normal,'" said Kevin Wang , Senior Vice President of Product at Braze. "Consumers will expect companies to be able to adjust quickly to these shifting behaviors, and the introduction of these new features, enhancements, and integrations will enable brands to evolve their customer engagement programs to meet expectations."
Ecommerce companies have seen rapid customer growth in the past year, along with shifting consumer expectations and behaviors. With Braze's new Shopify integration, brands will be able to increase sales and bolster retention through data-enriched communications. The integration, which is expected in summer 2021, will enable marketers to use real-time Shopify data to drive their Braze segmentation, cross-channel commerce experiences, and message personalization.
Shopify Reports Q1 2021 Adjusted Net Income $2.01 Per Diluted Share - CMLViz.com
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