Reported Q: Q2 2024 Rev YoY: +20.7% EPS YoY: +112.8% Move: +5.67%
Shopify Inc
SHOP
$118.40 5.67%
Exchange NASDAQ Sector Technology Industry Software Application
Q2 2024
Published: Aug 7, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for SHOP

Reported

Report Date

Aug 7, 2024

Quarter Q2 2024

Revenue

2.04B

YoY: +20.7%

EPS

0.13

YoY: +112.8%

Market Move

+5.67%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $2.04B up 20.7% year-over-year
  • EPS of $0.13 increased by 112.8% from previous year
  • Gross margin of 51.1%
  • Net income of 171.00M
  • ""Our relentless focus on our mission has not only empowered our merchants but has also strengthened Shopify significantly." - Harley Finkelstein" - Harley Finkelstein
SHOP
Shopify Inc

Executive Summary

In the second quarter of 2024, Shopify Inc (SHOP) reported a significant revenue increase of 25% year-over-year (YoY), reaching $2 billion, driven by strong growth in gross merchandise volume (GMV), which was $67.2 billion, up 22% YoY. Management highlighted the company's successful strategic initiatives in expanding its product offerings and improving merchant experiences, resulting in increased customer engagement and market share. Notably, Shopify maintained a gross profit margin of 51.1%, reflecting operational efficiency and effective cost management. The free cash flow margin more than doubled to 16%, indicating robust cash generation capability. The earnings call pointed to a long-term outlook focused on sustainable growth and profitability, positioning Shopify favorably in the competitive landscape.

Key Performance Indicators

Revenue
Increasing
2.04B
QoQ: 9.86% | YoY: 20.70%
Gross Profit
Increasing
1.04B
51.10% margin
QoQ: 9.17% | YoY: 25.12%
Operating Income
Increasing
241.00M
QoQ: 180.23% | YoY: 114.73%
Net Income
Increasing
171.00M
QoQ: 162.64% | YoY: 113.04%
EPS
Increasing
0.13
QoQ: 161.90% | YoY: 112.75%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 2,812.00 0.99 +31.2% View
Q3 2024 2,162.00 0.64 +26.1% View
Q2 2024 2,044.58 0.13 +20.7% View
Q1 2024 1,861.00 -0.21 +23.4% View
Q4 2023 2,144.00 0.52 +23.6% View