Shopify (NYSE: SHOP) reported Q1 EPS of $0.01, $0.05 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.43 billion.

2023 Outlook

For the second quarter of 2023, we expect:

* Revenue to grow at a similar rate to the first quarter growth rate on a
year-over-year basis;
* Gross margin percentage to be similar to the first quarter 2023 gross
margin percentage;
* Operating expense dollars, when excluding one-time items related to the
planned sale of our logistics businesses and severance, to decrease by a
mid-single digit percentage compared to operating expenses in the first
quarter 2023; and,
* Stock-based compensation to be approximately $110 million, excluding
one-time charges related to the sale of our logistics businesses.

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