Earnings

Shopify (SHOP) Q3 2022 earnings

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Shopify is about 10% of total U.S. e-commerce capital

Shares of Shopify jumped 17% after the e-commerce company reported a narrower-than-expected loss for the third quarter and revenue that beat Wall Street’s estimates.

  • Loss per share: loss of 2 cents, adjusted, vs. loss of 7 cents expected by analysts according to Refinitiv.
  • Revenue: $1.37 billion vs $1.33 billion expected, according to Refinitiv.

Revenue was up 22% from the same quarter last year, but Shopify said the strong U.S. dollar weighed on its sales.

Last quarter, Shopify said 2022 will be “more of a transition year, in which ecommerce has largely reset to the pre-Covid trend line and is now pressured by persistent high inflation.” The company saw booming growth during the coronavirus…



Source cnbc.com

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