SHOP - Shopify Non-GAAP EPS of $0.14 beats by $0.09 revenue of $1.69B beats by $70M
2023-08-02 16:23:35 ET
- Shopify press release ( NYSE: SHOP ): Q2 Non-GAAP EPS of $0.14 beats by $0.09 .
- Revenue of $1.69B (+31% Y/Y) beats by $70M .
- Gross Merchandise Volume 1 ("GMV") increased 17% to $55.0 billion, an increase of $8.2 billion over the second quarter of 2022, up 18% on a constant currency basis.
- Merchant Solutions revenue increased 35% to $1.3 billion compared to the prior year driven primarily by the growth of GMV and continued penetration of Shopify Payments.
- Gross Payments Volume 2 ("GPV") grew to $31.7 billion, representing 58% of GMV processed in the quarter, versus $24.9 billion, or 53%, for the second quarter of 2022.
- Subscription Solutions revenue increased 21% to $444 million compared to the prior year primarily due to more merchants joining the platform and the pricing changes that went into effect for existing merchants in April.
- Monthly Recurring Revenue 3 ("MRR") as of June 30, 2023 increased 30% to $139 million compared to the prior year. MRR gains were driven primarily by the pricing changes that went into effect for our existing merchants in late April and continued growth in the number of Standard and Plus merchants. Shopify Plus contributed $41 million, or 29%, of MRR compared with 31% of MRR as of June 30, 2022.
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Shopify Non-GAAP EPS of $0.14 beats by $0.09, revenue of $1.69B beats by $70M