Second-quarter sales surged 31% year over year to $2.68 billion, an acceleration from a year ago, when revenue expanded roughly 20%.
The Canadian e-commerce company also offered third-quarter guidance that surpassed expectations. Shopify said it expects revenue to grow at a “mid-to-high twenties percentage rate” year over year, which is higher than the 21.7% growth projected by analysts.
The upbeat report and guidance suggested Shopify, which sells software for e-commerce businesses, is navigating President Donald Trump’s trade war better than feared. Last quarter, the company noted that there was macroeconomic “uncertainty ahead,” but that it wasn’t seeing significant price increases among its merchants due to the tariffs.
“We had factored into our guidance some potential impact from tariffs, which did not materialize,” Shopify CFO Jeff Hoffmeister said on a conference call with investors.
Shopify’s gross merchandise sales, or the total volume of merchandise sold on the platform, also came in higher than expected. GMS grew 29% year over year to $87.8 billion, surpassing Wall Street’s projected $81.5 billion.
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Net income jumped to $906 million, or 69 cents a share, during the quarter, compared to $171 million, or 13 cents per share, a year ago.
The company said it expects operating expenses as a percentage of revenue to be 38% to 39%, compared with 39% to 40% in the previous quarter.
