Shopify’s Gravity-Defying Gains Prime Markets for Solid Quarter
- Company has beat earnings expectations every quarter since IPO
- Questions remain about potential for e-commerce slowdown
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Shopify Inc. is in a stratosphere that only one other Canadian company has reached before, passing $200 billion in stock market value last week. It’s a sign of the market’s upbeat view of its prospects -- even as its growth rate begins to soften.
Shopify’s adjusted earnings are expected to slip to 98 cents a share in the second quarter, down 7% from the same period last year, according to analysts surveyed by Bloomberg.