Shopify Blows Away Revenue Estimates for Ninth Quarter in a Row
- Canadian e-commerce company now has 500,000 customers
- Raised 2017 revenue outlook to $642 million to $648 million
The logo of Shopify Inc. hangs on a wall at the company's office space in Toronto.
Photographer: Kevin Van Paassen/BloombergThis article is for subscribers only.
Canadian e-commerce platform Shopify Inc. soared the most in almost a year and a half after beating analysts’ revenue estimates for a ninth quarter in a row, boosting the forecast for the current quarter and signing up a record number of new merchants.
The second-quarter earnings report Tuesday burnished the Ottawa-based company’s reputation as a stock market darling that can seemingly do no wrong.