Shopify’s remarkable Q1 results
Shopify delivered better-than-expected numbers in the first quarter. The company reported an adjusted EPS of $0.19 in the quarter, which was higher than the earnings of $0.06 last year. Revenues of $470 million gained 47% YoY. The double-digit revenue growth came from a 33.6% YoY rise in its subscription solutions revenue and a 57% YoY growth in merchant solutions revenue. The company’s MRR (monthly recurring revenue) also increased amid a rise in the number of merchants on the Shopify platform. The company’s GMV (gross merchandise volume) also rose by 46% YoY in the quarter.