(Reuters) – Canada’s Shopify beat Wall Street estimates for revenue in the second quarter on Wednesday, as more merchants used its online tools and targeting services to attract customers.
U.S-listed shares of the company gained 7% in aftermarket trading.
Total revenue grew 31%, to $1.7 billion in the quarter ended June, compared with analysts’ estimate of $1.62 billion, according to Refinitiv data.
Gross merchandise volume – or the total value of orders facilitated through the Shopify platform – grew 17%, to $55 billion, compared to an estimate of $53.34 billion.
(Reporting by Yuvraj Malik and Akshita Toshniwal in Bengaluru; Editing by Pooja Desai)
