Shopify Reports Strong Q2 2024 Earnings with Revenue and EPS Beat

Wednesday, 7 August 2024, 13:14
Shopify Inc (NYSE:SHOP) has announced its fiscal second-quarter 2024 earnings, showcasing a year-over-year revenue growth of 21% to $2.05 billion, surpassing analyst estimates. Furthermore, when adjusted for previous logistics sales, revenue growth reached 25%. The company also reported an adjusted EPS of $0.26, exceeding expectations of $0.20, and a net income of $171 million. With a robust outlook for Q3, Shopify continues to position itself for future growth.
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Shopify Reports Strong Q2 2024 Earnings with Revenue and EPS Beat

Shopify Q2 2024 Earnings Summary

Shopify Inc (NYSE:SHOP) has demonstrated remarkable performance in its fiscal second-quarter earnings report for 2024.

Key Financial Highlights

  • Revenue Growth: Shopify reported a year-over-year revenue increase of 21%, totaling $2.05 billion.
  • Analyst Expectations: This revenue figure surpassed the consensus estimate of $2.01 billion.
  • Adjusted EPS: The company achieved an adjusted earnings per share of $0.26, exceeding the expected $0.20.
  • Net Income: The net income for the quarter stood at $171 million.

Outlook for Q3

Shopify’s strong performance sets a positive tone for Q3, as the company continues to augment its e-commerce portfolio.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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