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Shopify Posts Upbeat Earnings, Joins Axon Enterprise, Aspen Technology, Illumina, Global Payments And Other Big Stocks Moving Higher On Wednesday

Benzinga ·  Aug 7 11:05

U.S. stocks were higher, with the Dow Jones index gaining over 400 points on Wednesday.

Shares ofShopify Inc. (NYSE:SHOP) rose sharply during Wednesday's session after the company reported better-than-expected second-quarter EPS results.

Shopify 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 e-commerce platform company reported adjusted EPS of 26 cents, which beat analyst consensus estimate of 20 cents

Shopify shares jumped 24.6% to $67.59 on Wednesday.

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