Shopify (NYSE:SHOP) earnings for the e-commerce company’s third quarter of 2019 have SHOP stock falling on Tuesday. This comes from its adjusted per-share loss of -29 cents. This isn’t even close to Wall Street’s EPS estimate of 11 cents for the period. Revenue of $390.60 million is better than analysts’ estimates of $383.76 million, but couldn’t save SHOP stock today.
Let’s see what else is worth noting from the most recent Shopify earnings report.
- Adjusted losses per share are a switch from earnings per share of 4 cents in the same period of the year prior.
- Revenue was up 45% when compared to the same quarter of 2018.
- An operating loss of -$35.70 million is 12% wider than the operating loss of -$35.70 million in Q3 2018.
- Shopify earnings also have net loss coming in at -$72.80 million.
- This is 213.79% worse than its net loss of $23.20 from the same time last year.
Amy Shapero, CFO of Shopify, says this of the Q3 SHOP stock earnings.
“Our strong results in the quarter were driven in part by the success of our international expansion, which is just one of the many ways we are investing in the platform. By carefully balancing these multiple opportunities that have different investment time horizons, we can keep investing in the innovations that will power merchants in the future while helping them grow rapidly today.”
Despite the poor third-quarter earnings report, the rest of the year could be good for the company. It is expecting revenue to come in between $472.00 million to $482.00 million. This will have it above Wall Street’s estimate of $1.54 billion for the year.
SHOP stock was down 3.13% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.