Short sellers have increased bets the stock will fall after the report. But history suggests that’s a risky bet
will release its third-quarter financial results early on Nov. 12. Will the report provide further confirmation that its once robust financial flywheel – a self-reinforcing feedback loop in growth and financing that acquires momentum of its own – is again picking up speed and now on the verge of entering an unstoppable phase?’s IPO in 2015 and gained velocity as the company went on a streak of beating analyst expectations for 24 consecutive quarters.
This time around, consensus earnings for the third quarter of 2024 are currently projected to be US$0.27 per share, according to LSEG and Bloomberg data. The consensus estimate for revenues is projected to be US$2.115-billion.Half of the quarters drew frenzied endorsements from the market: share prices spiked upward by an average 21 per cent on the day the reports were released.
Conversations with agencies and merchants, as well as analyses of app usage, point to merchant sales and other metrics overtaking Street predictions.Data from BuiltWith showed that the number of websites using Shopify in the third quarter increased by 40 per cent on a year-over-year basis, exceeding forecasts.
Shopify continues to hold the line on headcount , suggesting favourable news on operating leverage and margins.
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