Shopify Shares Rising

Shopify shares are rising after the company turned in second-quarter results that were higher than Wall Street expected.

Shopify (ticker: SHOP) reported adjusted second-quarter earnings per share of 14 cents, well above the 3-cent Wall Street consensus forecast. Revenue was $362 million, versus expectations of $350.5 million.

The company’s forecast for the current quarter also beat Wall Street expectations. Shopify forecasted a range of $377 million to $382 million in sales, compared to the $374 million average estimate.

“Our strong performance in the second quarter reflects the success of our ongoing activities and investments to help merchants start selling, sell more, and sell globally,” CFO Amy Shapero said in the earnings release.

Shopify stock was up 5% to $333.62 in premarket trading.

Shopify stock has risen nearly 130% year to date through Wednesday’s close. Investors are growing more optimistic about its e-commerce infrastructure platform, services, and tools. The company uses cloud computing to offer better reliability, lower upfront costs, and scalability to its merchant customers, generating revenue through a combination of monthly subscription and transaction fees. E-commerce Platforms.

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