Shopify Inc (US) (NYSE:SHOP) has released its earnings report for the first quarter of 2017.
Here are a few things to know about Shopify Inc (US)’s earnings report for the first quarter of the year.
- The company reported revenue of $127.4 million for the first quarter of the year.
- This represents a 75% increase from its revenue reported during the same time last year.
- It also comes in above Wall Street’s revenue estimate of $121.63 million for the quarter.
- Losses per share reported by the company in the first quarter of 2017 was 4 cents.
- This is better than its losses per share of 6 cents from the first quarter of 2016.
- Analysts’ were expecting Shopify Inc (US) to report losses per share of one penny for the quarter.
- The cloud service company reported an operating loss of $14.5 million in the first quarter of 2017.
- The company’s operating loss from the same period of the year prior was $9.7 million.
- Net loss reported in the first quarter of the year was $13.6 million.
- Shopify Inc (US)’s net loss from the first quarter of the previous year was $8.9 million.
Shopify Inc (US) also released its guidance for the full year of 2017 in its most recent earnings report. The company is expecting revenue for the year to range from $615 million to $630 million. Wall Street is expecting revenue of $600.62 million in 2017.
For the second quarter of 2017, Shopify Inc (US) is expecting revenue to come in between $142 million to $144 million. Analysts are expecting the company to report revenue of $137.03 million for the second quarter of the year.
SHOP stock was up 6% as of noon Tuesday and is up 93% year-to-date.