Breaking its own record again! Shopify Q2 financial report released, GMV 42.2 billion US dollars

According to the financial report, Shopify's second-quarter revenue was $1.119 billion, exceeding the Zacks consensus estimate of $1.04 billion . The revenue in the same period last year was $714 million, a year-on-year increase of 57%.

As of June 30, Shopify's MRR (monthly recurring) revenue was $95.1 million, a year-on-year increase of 67%. GMV (gross merchandise volume) was $42.2 billion, an increase of $12.1 billion from the same period last year, a year-on-year increase of 40%, a record high; among them, GPV (total transaction payment) was $20.3 billion, accounting for 48% of GMV this quarter, while it was $13.4 billion in the same period last year, accounting for 45%.

In addition, Shopify's subscription solution revenue was US$334 million, a year-on-year increase of 70%; business solution revenue was US$785 million, a year-on-year increase of 52%.

Net profit was $879 million ($6.90 per diluted share) on revenue of nearly $1.12 billion, compared with $35.998 million ($0.29 per share) in the same period last year, an increase of 2,342% year-on-year.

Shopify’s adjusted earnings of $284.6 million ($2.24 per diluted share) beat the Zacks Consensus Estimate of $0.98 and increased 113% from $129.4 million ($1.05 per share) in the year-ago period .

Shopify has achieved five consecutive quarters of profitability.

Shopify: Will continue to increase investment and maintain profitability

Due to the continued growth of e-commerce trends in the first half of 2021, coupled with the US government's measures to stimulate consumption in March and April 2021, Shopify achieved higher-than-expected revenue while spending lower operating expenses.

A spokesperson mentioned, “Shopify’s adjusted operating income for the full year 2021 is expected to be higher than in 2020, and the company ’s gross profit in 2021 will grow rapidly. Against the backdrop of continued increases in operating expenses in Q3 and Q4, we will continue to increase reinvestment in our business.”

Shopify President Harley Finkelstein said, "E-commerce is everywhere, and our goal is to ensure Shopify merchants can sell everywhere. Shopify will continue to work hard to provide more services for online and offline retailers."

It is reported that Shopify will launch the Shop Pay electronic payment service system in the near future for merchants on the Google and Facebook platforms, and will no longer be limited to merchants on the Shopify platform.

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