-=Shopify (SHOP) reported Q2 earnings on Tue 31 July 2018 (b/o)

Shopify beats by $0.04, beats on revs; guides Q3 revs in-line; raises FY18 revs, in-line

• Reports Q2 (Jun) earnings of $0.02 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of ($0.02); revenues rose 61.5% year/year to $245 mln vs the $234.72 mln Capital IQ Consensus. Subscription Solutions revenue grew 55% to $110.7 million. This increase was driven primarily by growth in Monthly Recurring Revenue1 ("MRR"), driven primarily by an increase in the number of merchants joining the Shopify platform. Merchant Solutions revenue grew 68% to $134.2 million, driven primarily by the growth of Gross Merchandise Volume2 ("GMV"), as well as by strong growth in Shopify Capital and Shopify Shipping, each of which more than doubled revenue over last year's second quarter. MRR as of June 30, 2018 was $35.3 million, up 49% compared with $23.7 million as of June 30, 2017. Shopify Plus contributed $8.1 million, or 23%, of MRR compared with 18% of MRR as of June 30, 2017. GMV for the second quarter was $9.1 billion, an increase of $3.3 billion, or 56%
• Co issues in-line guidance for Q3, sees Q3 revs of $253-257 mln vs. $253.42 mln Capital IQ Consensus Estimate.
• Co issues in-line guidance for FY18, raises FY18 revs to $1.015-1.025 bln from $1.00-1.01 bln vs. $1.02 bln Capital IQ Consensus Estimate.