Shopify (SHOP) Tops Q2 EPS by 4c; Guides Revs Above the Street

Shopify (NYSE: SHOP) reported Q2 EPS of ($0.04), $0.04 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $86.36 million versus the consensus estimate of $80.62 million.

“Today’s entrepreneurs are tomorrow’s multi-million dollar businesses, and that many use Shopify to get there is the foundation of our business model,”said Tobi Lütke, founder and CEO of Shopify. “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.”

“We are pleased to report our fourth consecutive quarter of year-on-year revenue growth of greater than 90%,” stated Russ Jones, Shopify’s CFO. “We continued to excel on both layers of our business model in Q2. 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.”

GUIDANCE:

Shopify sees Q3 2016 revenue of $93-95 million, versus the consensus of $87.5 million.

Shopify sees FY2016 revenue of $361-367 million, versus the consensus of $346.4 million.

For earnings history and earnings-related data on Shopify (SHOP) click here.

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