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$SHOP Shopify Q1 FY24: 📦 GMV +23% to $61B. 💳 GPV 60% of GMV (+4pp Y/Y). 📊 MRR +32% to $151M. • Revenue +23% Y/Y to $1.9B ($10M beat). • Operating margin 5% (+17pp Y/Y). • Non-GAAP EPS $0.20 ($0.03 beat). • Q2 FY24 revenue growth: high-10s Y/Y. Excluding the sale of the… https://t.co/Jh3HLLNz3C
$SHOP DOWN 20% ON GUIDANCE, BIGGEST DROP SINCE MAY 2022: - Expects growth in high teens for 2Q, down from 23% this quarter - Revenue $1.86bn, +23% y/y, est $1.84bn - Monthly recurring rev $151mn, +30% y/y, est $149mn - Merchant Solutions rev $1.4bn, +24% y/y, est $1.34bn -… https://t.co/QYg8uQDUHb
$SHOP Guidance: "Our expectations for the second quarter of 2024 are as follows. First, on revenue. We expect Q2 year-over-year revenue growth to be in the high teens on a GAAP basis, which equates to a year-over-year growth rate in the low to mid-20s when excluding the 300 to… https://t.co/57ltSbMFkY
Shopify Inc. reported a significant increase in first-quarter revenue, up 23% year-over-year to $1.9 billion, surpassing estimates of $1.84 billion. Despite this, the company's stock plummeted by up to 20% in pre-market trading due to a surprising quarterly loss and a cautious outlook for the second quarter. Shopify's guidance indicated expectations of revenue growth in the high teens for Q2, a slowdown from the current quarter's 23% growth rate. Additionally, the company posted a big quarterly loss, which was a key factor in the stock's decline. Monthly recurring revenue and merchant solutions revenue also saw substantial increases. Gross merchandise volume (GMV) was up 23% to $61 billion, and the gross payment volume (GPV) constituted 60% of GMV. The operating margin improved significantly to 5%, and the non-GAAP earnings per share were $0.20.
