Shopify beats revenue expectations on resilient online shopping trend
The Peninsula
Canada's e-commerce giant Shopify Inc beat second-quarter revenue expectations on Wednesday, on the back of a resilient online shopping trend precipitated by the COVID-19 pandemic.
"Shopify fired on all cylinders in our second quarter, keeping our merchants well equipped to seize the opportunities presented in a post-pandemic retail era," said Amy Shapero, Shopify's chief financial officer. U.S.-listed shares of Shopify rose 2% in premarket trading. Shopify's value nearly tripled over the last year due to unprecedented growth of the e-commerce sector as customers looked towards online shopping as the only viable alternative during the pandemic.
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