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Shopify romps past expectations, posting nearly US$1B in Q1 revenue as pandemic e-commerce shift sustains

Shopify posted a first quarter that broke multiple records, reporting US$988.6 million in revenue driven by its merchants’ strong sales, as consumers continue to do their shopping online amid the pandemic.   

Wednesday’s earnings significantly surpassed market expectations, with adjusted net income per share of US$2.01, ahead of analysts’ consensus estimate of US$0.74 collated by FactSet. The stock duly jumped more than 12 per cent in early trading Wednesday on the New York Stock Exchange.

Here’s a breakdown of the metrics that matter in Shopify’s first-quarter earnings:

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