Ecommerce platform operator Shopify (SHOP) pulled off one of the year’s hottest IPOs, with SHOP stock doubling on its debut in late May. But, as is typical for many hot IPOs, enthusiasm cooled off as investors started selling — presumably to take enormous profits. Source: Shopify
But the latest Shopify earnings report showed that Shopify is still full of growth. And Shopify stock is up 13% in early trading as a result.
In Q2, revenues soared 90% to $45 million and the adjusted net loss came to a moderate 3 cents per share. Meanwhile, the Street consensus only expected revenues of $38.1 million and a loss of 6 cents per share. So yes, it was a big-time beat for SHOP sotck. Read