Shopify Revenue Doubles, Crushing Estimates, as E-commerce Growth Soars

Shopify (NYSE: SHOP) reported its second-quarter results before the market opened, and while expectations were already high, the surge in e-commerce sent the stock soaring to record heights. The company reported revenue that grew to $714.3 million, up a massive 97% year over year, as businesses scrambled to set up online shops as the pandemic continues. Shopify also generated non-GAAP (adjusted) earnings per share (EPS) of $1.05, up more than tenfold from the $0.10 it reported in the prior-year quarter. 

To put those numbers in perspective, analysts' consensus estimates had called for revenue of $510.8 million and EPS of $0.01. 

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Source Fool.com