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Here's Why Shopify (SHOP) Stock is Soaring After Earnings
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Shares of Shopify Inc. (SHOP - Free Report) are up more than 6% on Tuesday after the cloud-based e-commerce company posted better-than-expected first quarter financial results.
Shopify released its first quarter 2017 financial results on Tuesday morning, posting a loss of $0.15 per share and revenues of $127 million. Since posting, Shopify’s stock price has jumped 6.53% to $82.30 per share in morning trading. Shopify is currently a Zacks Rank #3 (Hold).
The Ottawa, Ontario-based company’s loss of $0.15 per share beat the Zacks Consensus Estimate of a loss of $0.22 per share. Shopify posted revenue figures of $127 million, surpassing our consensus estimate of $122 million.
Shares of Shopify, which focuses on small and medium-sized businesses, have skyrocketed 80% since the beginning of the year.
Shopify first quarter revenue grew 75% year-over-year. The company’s gross merchandise volume was $4.8 billion, up 81% sequentially.
The Canadian e-commerce company raised its 2017 guidance and expects full-year revenues in the range of $615 million to $630 million. Shopify also projects a GAAP operating loss between $69 million to $73 million.
“With our excellent start to the year, it is clear we are becoming the de facto platform for sellers,” Shopify’s CFO Russ Jones said in a press release. “In addition to merchant growth and their adoption of both new channels and merchant solutions, we also continue to see expansion of merchants’ GMV.”
“Retail is shifting headlong toward the vision we laid out two years ago -- of inspiring entrepreneurship with multi-channel commerce -- and we fully expect to continue leading this industry transition for years to come.”
Here’s a graph that looks at Shopify’s Price, Consensus and EPS Surprise history:
Shopify Inc. offers cloud-based commerce platform. The Company's platform allows merchants to design, set up and manage their stores through Web, mobile, social media, brick-and-mortar locations and pop-up shops. Shopify Inc. is based in Ottawa, Canada.
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Here's Why Shopify (SHOP) Stock is Soaring After Earnings
Shares of Shopify Inc. (SHOP - Free Report) are up more than 6% on Tuesday after the cloud-based e-commerce company posted better-than-expected first quarter financial results.
Shopify released its first quarter 2017 financial results on Tuesday morning, posting a loss of $0.15 per share and revenues of $127 million. Since posting, Shopify’s stock price has jumped 6.53% to $82.30 per share in morning trading. Shopify is currently a Zacks Rank #3 (Hold).
The Ottawa, Ontario-based company’s loss of $0.15 per share beat the Zacks Consensus Estimate of a loss of $0.22 per share. Shopify posted revenue figures of $127 million, surpassing our consensus estimate of $122 million.
Shares of Shopify, which focuses on small and medium-sized businesses, have skyrocketed 80% since the beginning of the year.
Shopify first quarter revenue grew 75% year-over-year. The company’s gross merchandise volume was $4.8 billion, up 81% sequentially.
The Canadian e-commerce company raised its 2017 guidance and expects full-year revenues in the range of $615 million to $630 million. Shopify also projects a GAAP operating loss between $69 million to $73 million.
“With our excellent start to the year, it is clear we are becoming the de facto platform for sellers,” Shopify’s CFO Russ Jones said in a press release. “In addition to merchant growth and their adoption of both new channels and merchant solutions, we also continue to see expansion of merchants’ GMV.”
“Retail is shifting headlong toward the vision we laid out two years ago -- of inspiring entrepreneurship with multi-channel commerce -- and we fully expect to continue leading this industry transition for years to come.”
Here’s a graph that looks at Shopify’s Price, Consensus and EPS Surprise history:
Shopify Inc. Price, Consensus and EPS Surprise
Shopify Inc. Price, Consensus and EPS Surprise | Shopify Inc. Quote
Shopify Inc. offers cloud-based commerce platform. The Company's platform allows merchants to design, set up and manage their stores through Web, mobile, social media, brick-and-mortar locations and pop-up shops. Shopify Inc. is based in Ottawa, Canada.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>