Shopify jumps on upbeat quarterly revenue forecast
SHOP•Stock performance
The stock was down 21.5% year to date as of the last close.
Shares jump after upbeat forecast
U.S.-listed shares of e-commerce platform Shopify SHOP.TO jumped 25% to $154.41 in premarket trading.
The company forecast third-quarter revenue to grow in the low-thirties percentage range, above analysts' estimate of a 26.3% increase, according to data compiled by LSEG.
Second-quarter revenue beats estimates
Second-quarter revenue rose 34% to $3.58 billion, above analysts' average estimate of $3.45 billion.
Revenue from the company's merchant solutions unit jumped 37% to $2.78 billion from $2.02 billion a year ago.
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