Written by StockNews.com
Shopify, Inc. (SHOP) early Tuesday posted market-beating first quarter earnings results and lifted its full-year outlook, as demand for its business solutions remains robust.
The Ottawa, Canada-based cloud e-commerce platform provider reported a Q1:
- Subscription Solutions revenue rose 60% to $62.1 million, while
- Merchant Solutions revenue grew 92% to $65.3 million.
Looking ahead, Shopify forecast Q2:
Shopify also boosted its full-year revenue outlook, now seeing 2017:
The company commented via press release:
“In addition to merchant growth and their adoption of both new channels and merchant solutions, we also continue to see expansion of merchants’ GMV.
Retail is shifting headlong toward the vision we laid out two years ago — of inspiring entrepreneurship with multi-channel commerce — and we fully expect to continue leading this industry transition for years to come.”
Shopify Inc. shares rose $0.74 (+0.96%) in premarket trading Tuesday. Year-to-date, SHOP has gained 80.22%, versus a 7.24% rise in the benchmark S&P 500 index during the same period…
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