Shopify Beats EPS And Revenue Estimates
Shopify Inc (NYSE: SHOP) released its Q2 results before the open on Wednesday. Earnings per share came in above Wall Street consensus expectations.
Shopify reported EPS of $(0.04) and revenues of $86.6 million. Analyst consensus had an EPS estimate of $(0.08) and revenues of $80.63 million.
"Our mission is to add value for merchants, and it is clear the additions to the platform we have made over the past year are doing this. Merchant adoption continues to grow across all of them, including the rollout of new sales channels, Facebook Messenger, Shopify Shipping, and Shopify Capital," stated Tobi Lutke, founder and CEO of Shopify.
The strong growth in new merchant adds and even stronger growth of their sales indicate that the Shopify platform is meeting the growing demand for multi-channel retail in ways that no other software can," stated Russ Jones, Shopify's CFO.
Shopify management saw Q3 revenues at $93-$95 milion vs. estimates of $87 million and FY16 revenues of $361-$367 million vs. estimates of $346 million.
At time of writing, Shopify traded at $34.21 in Wednesday's pre-market session, up 2.03 percent.
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