It was the 24th consecutive quarter that the company\u0027s earnings surpassed forecasts
The Biden administration’s stimulus package and “sustained momentum of digital commerce trends” helped Shopify generate better-than-expected revenue with lower operating costs than anticipated, the company said in a statement Wednesday. The shares fell 1 per cent to US$1,540 at 9:37 a.m. in New York.
“As a result, we now expect full-year 2021 adjusted operating income to be above the level we achieved in 2020,” the company said. With economies reopening, Shopify said it sees e-commerce growing at a “more normalized pace” compared to last year. It was the 24th consecutive quarter that the company’s earnings surpassed analysts’ forecasts. Gross merchandise volume was US$42.2 billion, up 40 per cent over Q2 2020.Article content
Revenue was US$1.12 billion, surpassing US$1 billion for the first time, as the shift to online shopping continued. Analysts had expected US$1.05 billion.
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