Shopify (NYSE: SHOP) reported first-quarter 2021 financial results before the regular trading hours on Wednesday. The e-commerce giant reported Q1 revenue of $988.6 million, up 110% and above the Wall Street consensus. The company reported a net income of $2.01 per share, much better than what analysts had anticipated.
SHOP shares rose 2.4% immediately following the announcement. The stock was one of the top performers last year rallying over 82% in the past 12 months.
“Merchant sales growth on our platform accelerated in the first quarter as merchants leveraged our modern commerce technology, which helps them compete in any retail environment and engage directly with their customers wherever they are,” Shopify President Harley Finkelstein said in a statement.
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