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 Inc(紐約證券交易所代碼:SHOP)2024財年第二季度收入同比增長21%,達到20.5億美元,超過了分析師共識估計的20.1億美元。經物流業務出售調整後,收入同比增長25%。
該股在週三公佈季度業績後上漲。
這家電子商務平台公司報告調整後的每股收益爲0.26美元,超過了分析師共識估計的0.20美元。該公司報告的淨收入爲1.71億美元,而去年同期的虧損爲13.1億美元。
商品總量同比增長22%,達到672億美元。總支付額爲411億美元。商戶解決方案收入同比增長19%,達到15億美元。
該季度的毛利率爲51.1%,而去年同期爲49.3%,這主要是由於物流業務缺乏稀釋影響以及定價計劃的變化。
該季度的自由現金流總額爲3.33億美元,而去年同期爲9700萬美元。
Shopify首席財務官傑夫·霍夫邁斯特表示:“在消費者支出喜憂參半的環境中,我們推動了GMV、收入和毛利的強勁增長,繼續佔據份額,同時擴大了我們的自由現金流利潤率。”
Shopify在最近幾個季度面臨收入增長放緩的問題。彭博社報道,爲了恢復增長,哈雷·芬克爾斯坦總統已承諾進行大量的營銷投資,即使這會影響利潤率。
第三季度展望:Shopify預計,收入同比增長20.7億美元至20.7億美元,同比增長20.7億美元。
該公司預計,毛利率將連續提高50個點子。它預計自由現金流利潤率將按順序相似。
商店價格走勢:在週三的最後一次盤前檢查中,Shopify股價上漲18.4%,至64.18美元。