Shopify stock was trading at $33.89 as of 11:14 AM EDT
When compared to the previous quarter, Shopify’s ( NYSE:SHOP ) revenue climbed 22% to $1.4 billion. The Canadian e-commerce powerhouse saw an 8% growth in monthly recurring sales to $107 million over the previous year.
The impact of the free and paid trial experiences introduced in the quarter largely offset the progressive yearly gains in the number of Shopify Plus merchants on the platform, not to mention the thousands of new retail locations using POS Pro.
Due mainly to a rise in MRR and the lag of SHOP’s change in app selling terms, Subscription Solutions revenue climbed 12% to $376.3 million. In order to handle larger portions of their businesses, merchants have continued to use SHOP solutions, which has resulted in a 26% rise in revenue for Merchant Solutions to $989.9 million.
Earnings outlook and Shopify stock position
Compared to 12% of revenue in the prior year’s quarter, the adjusted operating loss was $45.1 million, or 3% of revenue. The disparity was mostly the result of growth in manpower, including Deliverr, and to a lesser amount, adjustments to SHOP’s compensation policy. The personnel reduction announced in July’s one-time charges for severance-related costs are also not included in the Q3 adjusted operating loss, nor are two accruals for ongoing legal proceedings.
The actual EPS was $-0.02 as opposed to the expected $-0.07. Shopify ( NYSE:SHOP ) anticipates an adjusted operating loss amount for Q4 that will be roughly equivalent to the adjusted operating loss amount in the third quarter . In p...
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