Second-quarter revenue rose 33%, excluding currency movements, to $3.6bn ($3.4bn expected). Growth was driven by strong performances in Merchant Solutions and Subscription Solutions, growing 37% and 22%, respectively.
Operating profit increased 68% to $488mn, driven by top-line growth.
Free cash flow rose 55% to $0.7bn. The group ended the period with net cash, including leases, of $4.9bn.
Third-quarter revenue is expected to grow in the ‘low-thirties’ percent rate (26% expected).
The shares were up 19.1% in early trading.
Our view
HL view to follow.
Shopify key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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