Shopify shares were rising during pre-market trading, as the company beat analysts’ earnings expectations.
The e-commerce company’s adjusted net income was $2.01 a share, vs. 74 cents expected by analysts polled by FactSet. Net income came in at $1.26 billion, or $9.94 a share, compared to a year-earlier loss of -$31.4 million, or -27 cents a share.
Revenue rose +110% from the year-ago quarter to $988.6 million, surpassing analysts' consensus estimates of $859 million.
Gross merchandise volume from merchant customers surged +114% year-over-year to $37.3 billion.