Shopify (SHOP) Stock Surges On Earnings, Revenue Beat
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Shopify shares surge as results beat eases e-commerce slowdown fears
October 27, 2022 7:06 AM EDTBy Nivedita Balu
(Reuters) -Shopify Inc beat estimates for quarterly revenue on Thursday and reported a smaller-than-expected loss, powered by businesses turning to the Canadian company's tools and payment options to scale up their online and offline presence.
The company's U.S.-listed shares surged nearly 18% as the results allayed investor worries over a slump in demand that wiped out over three-quarters of market value this year.
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UPDATE: Shopify (SHOP) Tops Q3 EPS by 5c, Offers Guidance
October 27, 2022 7:03 AM EDT(Updated - October 27, 2022 7:04 AM EDT)
Shopify (NYSE: SHOP) reported Q3 EPS of ($0.02), $0.05 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.34 billion.
For 2022, we now expect:
GMV growth will... More
