Should Investors Ignore Shopify's High Valuation?

Shopify (NYSE: SHOP) recently posted first-quarter numbers that easily beat Wall Street's expectations. The e-commerce platform's revenue rose 110% year over year to $988.6 million, accelerating from its 94% growth in the fourth quarter and beating estimates by $130 million.

Its merchant solutions revenue grew 137% to $668.0 million, and its subscriptions solutions revenue increased 71% to $320.7 million. Its GMV (gross merchandise volume), or the value of all goods sold on its platform, skyrocketed 114% to $37.3 billion.

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Source Fool.com