Shopify beats by $0.03, reports revs in-line
- Reports Q1 (Mar) earnings of $0.20 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $0.17; revenues rose 23.4% year/year to $1.86 bln vs the $1.84 bln FactSet Consensus.
- Q2 revenue expected to grow in the high-teens yr/yr, which translates into a year-over-year growth rate in the low-to-mid-twenties when adjusting for the 300 to 400 basis points impact from the sale of logistics businesses; Gross margin for Q2 is expected to decrease by approximately 50 basis points compared to Q1 2024; and Free cash flow margin to be similar to Q1 2024 free cash flow margin.
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