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

By Murad Hemmadi Apr 28, 2021

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:

In-depth, agenda-setting reporting

Great journalism delivered straight to your inbox.

News

At a town hall in suburban Ottawa, Justin Trudeau road-tests his pitch to the tech industry

By Murad Hemmadi

Briefing

Wealthsimple launches private credit offering with Sagard

By Leah Golob | Mar 21, 2023 | 6:00 PM EST

Tax cuts dominate Quebec’s $24B spring budget

By Martin Patriquin | Mar 21, 2023 | 5:55 PM EST

BlackBerry agrees to sell 32,000 patents for up to US$900M

By Anita Balakrishnan | Mar 21, 2023 | 3:43 PM EST

Best business newsletter in Canada

Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

Exclusive events

See the bigger picture with reporters and industry experts in subscriber-exclusive events.

Membership in The Logic Council

Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.