Shopify (SHOP) Tops Q2 EPS by 6c, Offers Outlook

Shopify (NYSE: SHOP) reported Q2 EPS of $0.26, $0.06 better than the analyst estimate of $0.20. Revenue for the quarter came in at $2.05 billion versus the consensus estimate of $2.01 billion.

2024 Outlook

For the third quarter of 2024, we expect:

• Revenue to grow at a low-to-mid-twenties percentage rate on a year-over-year basis;
• Gross margin to be higher by approximately 50 basis points compared to Q2 2024; GAAP operating expense as a percentage of revenue to be 41% to 42%;
• Stock-based compensation to be $120 million; and
• Free cash flow margin to be similar to Q2 2024. We continue to expect to deliver double-digit free cash flow margin for the rest of the year.

For earnings history and earnings-related data on Shopify (SHOP) click here.

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