Shares of Shopify jumped as much as 11.4% on Wednesday after the Canadian company, which makes tools for companies to sell products online, reported first-quarter results that crushed analysts' expectations.
For the first quarter, Shopify posted revenue of $988.6 million, which was up a whopping 110% compared with a year prior and trounced consensus estimates of $862.7 million. Adjusted earnings per share were $2.01, more than triple Wall Street's projected 75 cents per share.
Shopify (SHOP) Q1 Earnings & Revenue Beat Estimates, Stock Up
Shopify Inc . SHOP reported first-quarter 2021 adjusted earnings of $2.01 per share significantly outpacing the Zacks Consensus Estimate by 157.69%. The company had reported adjusted earnings of 19 cents per share in the prior-year quarter.
Total revenues improved 110% from the year-ago quarter's figure to $988.6 million, which beat the Zacks Consensus Estimate by 15.61%.
Shares of Shopify surged 11.4% following stellar first-quarter 2021 results on Apr 28, eventually closing at $1,288.80.
Shopify (SHOP) Q1 Earnings and Revenues Surpass Estimates
Shopify (SHOP) came out with quarterly earnings of $2.01 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 157.69%. A quarter ago, it was expected that this cloud-based commerce company would post earnings of $1.21 per share when it actually produced earnings of $1.58, delivering a surprise of 30.58%.
Shopify revenues accelerate but growth rate to start slowing - FreightWaves
The e-commerce boom of 2020 is continuing into 2021 and one of the first major e-tailers to announce Q1 earnings is confirming that. Shopify ( NYSE: SHOP ) reported total revenue in Q1 of $988.6 million, 110% growth year-over-year, powered by a 137% growth in Merchant Solutions revenue of $668 million.
"Shopify's momentum continued into 2021 as digital commerce tailwinds remained strong and merchants took advantage of the range of capabilities offered by our platform," said Amy Shapero, Shopify's CFO, in a statement. "We are focused on building a commerce operating system that will help shape the future of retail. Our merchant-first business model positions us to capture the massive opportunity presented by the growth of digital commerce, benefiting both our merchants and Shopify."
Stocks making the biggest moves midday: Shopify, Spotify, Enphase Energy and more
Spotify — The streaming audio stock fell more than 12% after the company's monthly active users for the first quarter disappointed investors. Spotify also cut its full year guidance for the metric. The company did report a smaller-than-expected loss for the first three months of the year.
Shopify — Shares of the e-commerce company popped 11.4% after Shopify reported adjusted earnings per share that were close to triple what analysts had projected. The company reported $2.01 in adjusted earnings per share on $989 million in revenue. Analysts surveyed by Refinitiv were expecting 74 cents per share and $865 million in revenue.
Shopify stock surges as pandemic tailwind keeps lifting revenue
Shopify stock climbed more than 11% in yesterday's stock trading session after the company beat analysts' revenue and earnings estimates for the quarter as the tailwinds resulting from the pandemic seem to be enduring for longer than expected.
Sales of the e-commerce platform more than doubled those of the same period last year, landing at $988.6 million while beating analysts' forecasts for the quarter by more than 15%.
Capital Calls: Shopify accelerates to slowdown | Reuters
An employee walks past a sign at Shopify's headquarters in Ottawa, Ontario, Canada, October 22, 2018. REUTERS/Chris Wattie
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Pinterest Expands Shopify Integration Worldwide
Pinterest’s integration with Shopify is expanding worldwide, giving 1.7 million merchants the ability to turn products from their e-commerce store into shoppable pins.
Shopify’s Pinterest app, which launched last year in the US and Canada, is now available in 27 additional countries.
The Pinterest app for Shopify stores lets merchants upload their product catalogues and convert their products into pins.
Happening on Twitter
Shopify surges after e-commerce boom fuels big earnings beat https://t.co/Te6KzTVOfe CNBC (from Englewood Cliffs, NJ) Wed Apr 28 20:04:02 +0000 2021
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