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Shopify once again blew by analysts’ estimates as it posted record third quarter financial results.
The e-commerce technology company on Tuesday recorded revenues of $171.5 million (all figures U.S.), up 72 per cent year over year. That exceeded the upper range of the company’s guidance for the quarter and topped S&P Global’s estimate of $166 million.
The Ottawa firm continue to report losses — nine cents per share in the third quarter compared to 11 cents during the same period a year earlier.
However, Shopify made a point of emphasizing that its technology and business platform are underpinning the growth. This appeared to be a slap in the face of Andrew Left, the short-seller who earlier this month sent the company’s shares tumbling with an incendiary report challenging Shopify’s marketing practices.
“Merchants large and small are hungry to leverage all that technology can do for them,” Russ Jones, Shopify’s CFO said in a statement Tuesday in advance of the company’s conference call with analysts.
“This is why our platform is so valuable to merchants and why they keep coming to Shopify. Our results underscore this, with another record quarter for merchant adds, along with a record number of store launches on Shopify Plus in the third quarter. On the strength of these results and our underlying business model, we are raising our forecasts for the fourth quarter and full year 2017.”
Shopify now expects to record revenues of between $656 million to $658 million for the year, up an average of $14 million from the previous forecast.
More to come.
查看原文...
The e-commerce technology company on Tuesday recorded revenues of $171.5 million (all figures U.S.), up 72 per cent year over year. That exceeded the upper range of the company’s guidance for the quarter and topped S&P Global’s estimate of $166 million.
The Ottawa firm continue to report losses — nine cents per share in the third quarter compared to 11 cents during the same period a year earlier.
However, Shopify made a point of emphasizing that its technology and business platform are underpinning the growth. This appeared to be a slap in the face of Andrew Left, the short-seller who earlier this month sent the company’s shares tumbling with an incendiary report challenging Shopify’s marketing practices.
“Merchants large and small are hungry to leverage all that technology can do for them,” Russ Jones, Shopify’s CFO said in a statement Tuesday in advance of the company’s conference call with analysts.
“This is why our platform is so valuable to merchants and why they keep coming to Shopify. Our results underscore this, with another record quarter for merchant adds, along with a record number of store launches on Shopify Plus in the third quarter. On the strength of these results and our underlying business model, we are raising our forecasts for the fourth quarter and full year 2017.”
Shopify now expects to record revenues of between $656 million to $658 million for the year, up an average of $14 million from the previous forecast.
More to come.
查看原文...
