As of Sep 30, 2020, Shopify ended the … Shopify Inc. (SHOP - Free Report) reported third-quarter 2020 adjusted earnings of $1.13 per share significantly outpacing the Zacks Consensus Estimate of 50 cents. See its 7 best stocks FREE.

", "Now more than ever, Shopify needs to be there for our merchants, so our focus during these challenging times is to help solve their immediate pain points," said Amy Shapero, Shopify’s CFO. Shopify launched Shopify Payments in Austria, expanding the availability of Shopify Payments to 16 countries.

Shopify Shipping adoption continued to rise, with 46% percent of eligible merchants in the United States and Canada utilizing Shopify Shipping in the first quarter of 2020, versus more than 40% in the first quarter of 2019. Non-GAAP gross profit (adjusted for amortization of acquired intangibles) surged 88.1% year over year to $412.6 million.

At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. GMV for the first quarter was $17.4 billion, an increase of $5.5 billion, or 46%, over the first quarter of 2019. To date, Shop Pay has processed over $8 billion in sales, while Arrive has been used by 16 million shoppers to track their ecommerce orders. For more information, visit www.shopify.com. Since the launch of Shopify Capital, cumulative merchant cash advances have increased to $1.4 billion, out of which $248 million was outstanding as of Sep 30, 2020.Shopify Shipping witnessed robust adoption in the third quarter.
Notably, Shop app integrates features from both Shop Pay and Arrive  and enables customers to easily discover local businesses, receive relevant product recommendations, check out effortlessly, and track all of their online orders.Notably, the company introduced Shopify Payments in Belgium, facilitating iDEAL as a local payment method, and supporting Bancontact debit payments, marking the availability of Shopify Payments to 17 countries.Besides, the company is well poised to capitalize on e-commerce boom via rapid uptake of its new point of sale software — Shopify POS. This year’s picks could be even more lucrative.Check out Zacks’ 2020 Election Stock Report >>. To learn more, click here. Shopify ended the first quarter of 2020 with a strong liquidity profile with $2.36 billion in cash, cash equivalents and marketable securities on our balance sheet. Availability of gift card capabilities to merchants on all plans.

Adjusted net income4 for the first quarter of 2020 was $22.3 million, or $0.19 per share, compared with adjusted net income of $7.1 million, or $0.06 per share, for the first quarter of 2019. The ability of brick-and-mortar retail merchants to shift sales online. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control, including but not limited to: (i) uncertainty around the duration and scope of the COVID-19 pandemic and the impact of the pandemic and actions taken in response on global and regional economies and economic activity; (ii) merchant acquisition and retention; (iii) managing our growth; (iv) our history of losses; (v) our limited operating history; (vi) our ability to innovate; (vii) the security of personal information we store relating to merchants and their customers and consumers with whom we have a direct relationship; (viii) a disruption of service or security breach; (ix) our potential inability to compete successfully against current and future competitors; (x) international sales and the use of our platform in various countries; (xi) the reliance of our growth in part on the success of our strategic relationships with third parties; (xii) our potential failure to effectively maintain, promote and enhance our brand; (xiii) our use of a single cloud-based platform to deliver our services; (xiv) our potential inability to achieve or maintain data transmission capacity; (xv) our reliance on a single supplier to provide the technology we offer through Shopify Payments; (xvi) payments processed through Shopify Payments; (xvii) our potential inability to hire, retain and motivate qualified personnel; (xviii) serious errors or defects in our software or hardware or issues with our hardware supply chain; (xix) evolving privacy laws and regulations, cross-border data transfer restrictions, data localization requirements and other domestic or foreign regulations may limit the use and adoption of our services; and (xx) other one-time events and other important factors disclosed previously and from time to time in Shopify’s filings with the U.S. Securities and Exchange Commission and the securities commissions or similar securities regulatory authorities in each of the provinces or territories of Canada. Non-GAAP financial measures are not recognized measures for financial statement presentation under U.S. GAAP and do not have standardized meanings, and may not be comparable to similar measures presented by other public companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. For now, the shift of consumer spending toward online is apparent: the number of consumers estimated to have made a purchase for the first time from any Shopify merchant grew 8% between March 13, 2020 and April 24, 2020, compared to the six-week period immediately prior.

You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. If you wish to go to ZacksTrade, click OK. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Moreover, strong app growth and conversion from free trial to paid members were positives.As of Sep 30, 2020, MRR was $74.4 million, up 47% from the year-ago quarter. While we continue to optimize for the merchant experience first, we have expanded the number of merchants participating in Shopify Fulfillment Network. While GMV through the point-of-sale (POS) channel declined by 71% between March 13, 2020 and April 24, 2020 relative to the comparable six-week period immediately prior to March 13, as most of Shopify’s Retail merchants suspended their in-store operations, Retail merchants managed to replace 94% of lost POS GMV with online sales over the same period. This favors Shopify’s prospects over the longer haul. Shopify Capital surpassed the one billion dollar milestone in cumulative capital advanced  since its launch in April 2016, with $1.05 billion advanced through first quarter 2020, approximately $192 million of which was outstanding on March 31, 2020. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. A boom in online orders from consumers sheltering at home during the outbreak boosted sales across e-commerce firms, encouraging small- to medium-sized businesses to create an online presence. A leading-edge research firm focused on digital transformation.
Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Trillions of dollars will shift into new market sectors after the election. This is likely to have hurt investor sentiments.Despite strong performance, shares of Shopify fell 8.4% following third-quarter 2020 results on Oct 29, eventually closing at $977.Notably, in the year-to-date period, the company’s stock has skyrocketed 131.3%, significantly outperforming the industry’s rally of 21.5%. "The spread of COVID-19 is going to be a tough time for all entrepreneurs. The biggest stories in fast food, shopping, and more. Shop offers users the ability to easily discover local businesses, receive relevant product recommendations from their favorite brands, check out effortlessly, and track all of their online orders. Zacks Equity Research Adjusted operating loss4 for the first quarter of 2020 was $7.3 million or 2% of revenue, compared with adjusted operating income of $0.3 million or 0% of revenue in the first quarter of 2019. October 30, 2020. Moreover, growth was driven by e-commerce boom and increased buying of essentials in the third quarter on account of the pandemic. Moreover, integrating Shopify platform with sales channels from TikTok, Facebook’s (FB - Free Report) Facebook shops, Walmart’s (WMT - Free Report) Walmart.com and Pinterest (PINS - Free Report) , to enable merchants expand sales and broaden business avenues, is expected to drive new buyer traffic to their stores. Shopify Plus contributed $15.3 million, or 28%, of MRR compared with 26% of MRR as of March 31, 2019. More new merchants signed to Shopify Fulfillment Network in third-quarter 2020 compared with previous quarters since its launch in June 2019. The company had reported adjusted net loss of 29 cents per share in the prior-year quarter.Total revenues improved 96% from the year-ago quarter’s figure to $767.4 million, which beat the Zacks Consensus Estimate by 16.97%.COVID-19 pandemic has altered consumer spending behavior considerably and triggered online store creation.

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