E-commerce firm Shopify Inc. (NYSE: SHOP) reported second quarter 2020 earnings results today.
Total revenues increased 97% to $714.3 million.
Net income was $36 million, or $0.29 per share, compared to a net loss of $28.7 million, or $0.26 per share, for the same period last year. Adjusted net income was $129.4 million, or $1.05 per share.
Shopify stated that the COVID-19 pandemic has accelerated the growth of ecommerce, shifting a larger share of retail spending to online commerce, and the company believes this trend will continue. However due to the significant uncertainty that still persists, the company is not providing an outlook for the third quarter or the full year of 2020.
Click here to access the transcript of Shopify Q2 2020 earnings conference call
Most Popular
Earnings Preview: FedEx looks set to report mixed results for Q4 2025
FedEx Corp. (NYSE: FDX) is preparing to report fourth-quarter earnings on Tuesday, June 24, at 4:00 pm ET. Recently, the management lowered its full-year earnings and revenue guidance for the
How Ulta Beauty’s (ULTA) new strategy is fueling growth
Shares of Ulta Beauty, Inc. (NASDAQ: ULTA) were up over 1% on Monday. The stock has gained 31% over the past three months. The beauty retailer started fiscal year 2025
Earnings Preview: What to look for when Kroger (KR) reports Q1 2025 results
The Kroger Co. (NYSE: KR) is expected to report its first-quarter financial results next week. Customer engagement remained stable last year, driven by high-quality products and tailored promotional offers. Recently,
