Shopify Second Quarter Revenue Grows 62 Percent to $245.0 Million
Driven by strong growth in Subscription Solutions revenue
Multi-channel eCommerce platform Shopify (NYSE: SHOP)(TXS: SHOP)reported strong revenue growth of 62 percent in the second quarter of 2018 with total revenue of $245.0 million, driven by Subscription Solutions revenue of $110.7 million, a 55 percent increase year-over-year, and Merchant Solutions revenue of $134.2 million, a 68 percent increase. Subscription Solutions revenue was driven by growth in Monthly Recurring Revenue and an increase in the number of merchants using the Shopify platform for their online businesses. Merchant Solutions revenue was driven by Gross Merchandise Volume and growth in Shopify Capital and Shopify Shipping, each more than doubling revenue over Q2 2017.
Subscription Insider now embargoes NEWS and FEATURE articles 14 days after they are published.
All registered site users can enjoy access to our full archive of news and feature content by logging in.
Remember — Subscription Insider membership includes access to all embargoed content.
Subscription Insider has upgraded to a new technology platform and our login process has changed:
FOR FREE EMBARGOED ACCESS:
- Newsletter Subscribers (Free): Please log in using the email you used to signup for our Newsletter. The first time you log in, you will need to reset your password.
- Registered Site Users: Please use the email and password you used when you registered for free site access for Subscription Insider.