Shopify reported strong second quarter results as revenue surged 57% from a year ago with subscriptions up 70% from a year ago. The e-commerce platform company reported second quarter revenue of $1.12 billion with net income of $879.1 billion, or $6.90 a share. Net income for the second quarter included a $778 million unrealized net gain on equity investments. Non-GAAP earnings for the second quarter were $284.6 million, or $2.24 a share. Wall Street was expecting Shopify to report second quarter revenue of $1.04 billion with non-GAAP earnings of 97 cents a share. Shopify surged during the COVID-19 pandemic as small businesses ramped up digital commerce operations. Shopify has also expanded its platform. The bet has paid off as Shopify ended the quarter with $7.76 billion in cash, cash equivalents and marketable securities and increasingly serves as a counterweight to Amazon. Developments in the quarter include: Shopify expands Shop Pay to non-Shopify merchants on Facebook, Google Shopify debuts Online Store 2.0, a major rebuild of its Liquid template language Google Cloud expands partnership with Shopify, forms merchant integration with Square Shopify joins the Open Invention Network Linux patent protection group Amy Shapero, CFO of Shopify, said the company executed well…. Read full this story
- Plains All American Pipeline (PAA) Q2 2021 Earnings Call Transcript
- How e-RUPI can transform government’s welfare schemes
- 3 Stocks That Could Be Worth $1 Trillion in 10 Years
- These 3 Renewable Energy Stocks Should Benefit From a New Infrastructure Bill
- ‘It' be ok’ Therapy dog hugs owner during mental health training session in moving TikTok
- Infosys becomes 4th Indian company to touch $100 billion m-cap
- How LA County countered recall-election disinformation in real time on social media
- Why the days of quarantine are coming to an end: Fully vaccinated may be EXEMPT from self-isolating when Freedom Day arrives
- QAnon, once a fringe conspiracy theory, edges into the mainstream: 'Things could get much, much worse'
- Tiger King is a capitalist fever dream you could not make up
Shopify reports strong Q2 as more merchants join its platform, adopt more services have 306 words, post on www.zdnet.com at July 28, 2021. This is cached page on xBlogs. If you want remove this page, please contact us.