Shopify (NYSE:SHOP) Swings to Adjusted Earnings in Q2; Sales Increase

Shopify (NYSE:SHOP) reported Q2 adjusted diluted earnings  of $0.14 per share, compared with a loss of $0.03 a year earlier.

Analysts polled by Capital IQ expected $0.05 normalized.

Revenue for the quarter that ended June 30 was $1.69 billion, up from $1.3 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.63 billion.

The company said it expects Q3 revenue to grow at a low-20s percentage rate on a year-over-year basis, which translates into a year-over-year growth rate in the mid-20s when adjusting for the 300 basis points to 400 basis points headwind from the sale of Shopify’s logistics businesses.

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