Shopify (NYSE: SHOP) reported Q2 EPS of $0.14, $0.07 better than the analyst estimate of $0.07. Revenue for the quarter came in at $1.69 billion versus the consensus estimate of $1.63 billion.

For the third quarter of 2023, we expect:
•Revenue to grow at a low-twenties percentage rate on a year-over-year basis, which translates into a year-over-year growth rate in the mid-twenties, when adjusting for the 300 to 400 basis points headwind from the sale of our logistics businesses;
•Gross margin percentage to be approximately two to three percentage points higher than the second quarter 2023 gross margin of 49.3%;
•Operating expense dollars to be flat to up slightly compared to the second quarter of 2023 operating expense dollars, when excluding one-time items from the impairment and accelerated stock-based compensation related to the sale of our logistics businesses and severance from the second quarter;
•Stock-based compensation to be approximately $110 million;
•Capital expenditures of approximately $45 million for the full year, inclusive of $33 million in the first half of the year related to logistics, and
•Free cash flow profitability for the third quarter of 2023 to be greater than the entire first half of 2023.

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