Shopify Inc (NYSE:SHOP) clocked fiscal second-quarter 2024 revenue growth of 21% year-over-year to $2.05 billion, which beat the analyst consensus estimate of $2.01 billion. Revenue grew by 25% Y/Y after adjusting for the sale of its logistics businesses.
The stock gained after it reported its quarterly results on Wednesday.
The e-commerce platform company reported adjusted EPS of $0.26, which beat analyst consensus estimate of $0.20. The company reported a net income of $171 million compared to a loss of $(1.31) billion a year ago.
Gross merchandise volume increased 22% year-over-year to $67.2 billion. Gross payments volume came in at $41.1 billion. Merchant solutions revenue increased 19% year-over-year to $1.5 billion.
The gross margin for the quarter was 51.1% compared to 49.3% a year ago, driven primarily by the lack of the dilutive impact of the logistics businesses and changes in pricing plans.
Free cash flow totaled $333 million in the quarter compared to $97 million in the same quarter last year.
"We drove strong growth in GMV, revenue, and gross profit, all amidst a mixed consumer spend environment, continued to take share and concurrently expanded our free cash flow margin," said Jeff Hoffmeister, CFO of Shopify.
Shopify has faced slowing revenue growth in recent quarters. To revive growth, President Harley Finkelstein has committed to substantial marketing investments, even if it affects profit margins, Bloomberg reports.
Q3 Outlook: Shopify expects revenue growth of low-to-mid-twenties percentage rate on a Y/Y basis versus a $2.07 billion consensus.
The company expects the gross margin to be higher by 50 bps sequentially. It projects a free cash flow margin to be similar sequentially.
SHOP Price Action: Shopify shares traded higher by 18.4% at $64.18 premarket at last check Wednesday.
Shopify公司(NYSE:SHOP)在2024财年第二季度实现了21%的年同比营收增长,达到了20.5亿美元,超过了分析师的一致预期,如果剔除物流业务的销售,营收同比增长25%。
周三公布季度业绩后,该股票上涨。
这家电子商务平台公司报告了每股收益0.26美元,超过了分析师的一致预期0.20美元。公司净利润为1,710万美元,而一年前则亏损13.1亿美元。
毛商品交易量同比增长22%,达到672亿美元。毛付款量为411亿美元。商家解决方案收入同比增长19%,达到15亿美元。
本季度毛利率为51.1%,而去年同期为49.3%,主要是由于物流业务无稀释影响和定价计划变化导致。
季度自由现金流总额为3330万美元,而去年同期则为970万美元。
"在消费者支出环境复杂的情况下,我们实现了毛商品交易量、营收和毛利润的强劲增长,继续扩大市场份额并同时扩展了自由现金流利润。" Shopify的首席财务官Jeff Hoffmeister表示。
Bloomberg报道称,Shopify近期面临收入增长放缓的问题。为了恢复增长,总裁Harley Finkelstein承诺大量投资营销,即使这会影响利润率。
第三季度展望:Shopify预计年同比营收增长率将低至中二十个百分点,预计将达到20.7亿美元的共识。
公司预计毛利率将比上一季度高50个基点。它预计自由现金流利润率将按顺序相似。
截至上周三,Shopify股票的交易价格上涨了18.4%,达到64.18美元。