Here's Why Shopify Stock Surged Today
Shares of Shopify (NYSE: SHOP) soared on Wednesday after the e-commerce platform delivered blockbuster first-quarter financial results. As of 3:35 p.m. EDT, Shopify's stock price was up more than 10%.
Shopify's growth is breathtaking. Its revenue rocketed 110% year over year to $988.6 million. That boost was fueled by a 71% jump in subscription revenue to $320.7 million, and a 137% surge in merchant solutions revenue to $668 million.
"More entrepreneurs around the world are choosing Shopify to launch and grow their businesses, and for good reason," Shopify president Harley Finkelstein said in a press release. "Our singular focus is on making entrepreneurship easier, and making it easier for entrepreneurs to succeed."
Source Fool.com
