{"id":8130,"date":"2018-05-01T11:58:32","date_gmt":"2018-05-01T15:58:32","guid":{"rendered":"http:\/\/business.financialpost.com\/?p=1583844"},"modified":"2018-05-01T11:58:32","modified_gmt":"2018-05-01T15:58:32","slug":"shopify-beats-expectations-hikes-guidance-but-stock-skids","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/05\/01\/shopify-beats-expectations-hikes-guidance-but-stock-skids\/","title":{"rendered":"Shopify beats expectations, hikes guidance, but stock skids"},"content":{"rendered":"<p>Canadian e-commerce giant Shopify on Tuesday raised its revenue guidance for the 2018 fiscal year after reporting that first-quarter revenues rose 68 per cent to $201.3 million.<\/p>\n<p>The company\u2019s adjusted net income per share was $0.04, beating consensus estimate from analysts of a loss of $0.05 per share.<\/p>\n<p>The stock, however, skid in morning trading, down 7.5 per cent at $159.23.<\/p>\n<ul class=\"related_links\">\n<li><a href=\"http:\/\/business.financialpost.com\/technology\/shopify-partners-with-google-cloud-for-back-end-infrastructure\">Shopify partners with Google Cloud for back-end infrastructure<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/news\/fp-street\/a-nice-problem-for-shopify-insiders-large-unrealized-gains\">A nice problem for Shopify insiders: large unrealized gains<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/news\/lcbo-chooses-shopify-to-run-online-cannabis-sales-more-pot-retail-news-expected\">LCBO picks Shopify to run online cannabis sales<\/a><\/li>\n<\/ul>\n<p>Chief Financial Officer Amy Shapero, who joined the company in early April, said the company now expects revenue to be between $1 billion and $1.1 billion for the year, up from the $970 million to $990 million estimate that the company delivered in February. The company posted revenues of $673.3 million for 2017.<\/p>\n<p>Shopify is an Ottawa-based tech unicorn which provides an e-commerce platform that helps merchants run their online stores and manage shipping across multiple channels.<\/p>\n<p>In the first quarter of 2018, the company expanded online shopping through Instagram from the U.S. and in March the company launched an integration with Google Pay which allows for a faster, easier checkout experience on Shopify stores.<\/p>\n<p>Speaking on the earnings call, CEO Tobias Lutke hinted that there are more announcements coming soon, at the company\u2019s Unite 2018 conference next week.<\/p>\n<p>By selling stock in the first quarter of this year, Shopify improved its cash position from $938 million at the end of December to $1.58 billion today.<\/p>\n<p>On the earnings call, before taking any questions Shapero told analysts that they\u2019re just going to have to wait and see what the company does with that money.<\/p>\n<p>\u201cWe will ask you now to stay tuned on that front, as the year progresses,\u201d Shapero said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CEO Tobias Lutke hints here are more announcements coming soon<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/8130"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=8130"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/8130\/revisions"}],"predecessor-version":[{"id":8133,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/8130\/revisions\/8133"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=8130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=8130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=8130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}