Shopify Reports Q1 Revenue of $127.4 Million, a 75 Percent Increase
Yesterday Shopify Inc.* (NYSE: SHOP)(TXS: SHOP), a cloud-based, multi-channel commerce platform for small and medium-sized businesses, announced its first quarter 2017 results, including total revenue of $127.4 million, a 75 percent increase year-over-year. Of this total, $62.1 million in revenue came from Subscription Solutions, representing a 60 percent increase year-over-year. Merchant Solutions revenue was $65.3 million, representing a 92 percent increase over the prior year. The company currently has 400,000 active Shopify stores with $34 billion in sales.
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