U.S. Stock Market News | Second-quarter GMV exceeds expectations, Shopify surges over 24%
On Wednesday, Canadian e-commerce company Shopify opened high and rose, with the stock up over 24% to $67.54 as of the time of writing. Data shows that the company's second-quarter revenue was $2.05 billion, a year-on-year increase of about 21%, exceeding Bloomberg's compiled analyst expectations of $2 billion. Excluding one-time items, earnings per share were $0.26, higher than the expected $0.20. In the second quarter, Shopify's Gross Merchandise Volume (GMV) increased by 22% to $672 billion, surpassing Wall Street's forecast of $657 billion. The gross margin for this quarter was 51.1%, compared to 49.3% in the same period last year. The stock has fallen by about 30% year-to-date, but has more than doubled since 2023
According to the information from Zhitong Finance APP, on Wednesday, the Canadian e-commerce company Shopify (SHOP.US) opened high and rose, with the stock up over 24% to $67.54 as of the time of publication. Data shows that the company's revenue in the second quarter was $2.05 billion, an increase of about 21% year-on-year, exceeding Bloomberg's compiled analyst expectations of $20 billion. Excluding one-time items, earnings per share were $0.26, higher than the expected $0.20. In the second quarter, Shopify's Gross Merchandise Volume (GMV) increased by 22% to $67.2 billion, surpassing Wall Street's forecast of $65.7 billion. The gross margin for this quarter was 51.1%, compared to 49.3% in the same period last year. The stock has fallen by about 30% year-to-date, but has more than doubled since 2023