Shopify Climbs as Post-Virus Return to Stores May Not Matter
- Company says business booming even where lockdowns are lifted
- E-commerce demand has ‘massive runway’ to grow: Shopify CFO
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Shopify Inc.’s growth continued unabated in the first quarter as it crushed both revenue and earnings expectations, countering fears that the pandemic-fueled e-commerce boom would come to an abrupt end as economies open up.
Shares of Canada’s largest company were up about 10% just before noon on Wednesday in New York. After climbing almost 40-fold in the last five years, they had been flat for the year on expectations that growth would inevitably slow.