Shopify reported a 32% rise in first-quarter revenue to $3.2bn ($3.1bn expected), ignoring exchange rate impacts. Growth was broad, driven by a 35% increase in the value of orders processed through the platform to $100.7bn.
Operating profit grew 78% to $382mn, driven by the top-line growth.
Free cash flow rose 31% to $476mn, and there was a net cash balance of $5.7bn at quarter-end.
Second-quarter guidance points to revenue growth at a “high-twenties” percentage rate (27% expected).
The shares fell 6.2% in pre-market trading.
Our view
HL view to follow.
Shopify key facts
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