Why Axis

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

Shopify CEO Tobi Lütke speaks during a technology conference in New York in October 2019.
Shopify CEO Tobi Lütke speaks during a technology conference in New York in October 2019. Cate Dingley/Bloomberg via Getty Images
article-aa

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:

Purchase a subscription to read the full article.

By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

Already a subscriber?