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Shares of Shopify (NYSE:SHOP) moved higher by 7.5% in pre-market trading after the company reported Q2 results.
Quarterly Results
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Earnings per share increased 650.00% over the past year to $1.05, which may not compare to the estimate of ($0.02).
Revenue of $714,341,000 rose by 97.34% year over year, which beat the estimate of $505,080,000.
Guidance
Earnings guidance hasn't been issued by the company for now.
Shopify hasn't issued any revenue guidance for the time being.
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Date: Jul 29, 2020
Time: 08:30 AM
Price Action
52-week high: $1074.98
Company's 52-week low was at $282.08
Price action over last quarter: Up 37.94%
Company Overview
Shopify offers an e-commerce platform primarily to small and midsize businesses. The firm has two segments: subscription solutions (43% of fiscal 2018 revenue) and merchant solutions (57% of fiscal 2018 revenue). The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. Merchant solutions are add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.