Shopify First Quarter 2024 Earnings: EPS Misses Expectations

Shopify (NYSE:SHOP) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.86b (up 23% from 1Q 2023).
• Net loss: US$273.0m (down from US$68.0m profit in 1Q 2023).
• US$0.21 loss per share (down from US$0.053 profit in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Shopify EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are down 11% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Shopify's balance sheet health.

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