Last Thursday, Shopify Inc. (SHOP: TSX,NYSE) reported strong Q1 results prior to the opening of the markets. Gross Merchandise Volume (GMV), which represents the total net value of orders processed, was US$50 billion for the first quarter showing an increase of 15% year-over-year (y-o-y) or 18% on a constant currency basis. First-quarter revenue was $1.5 billion, up 25% y-o-y or 27% on a constant currency basis. A resilient consumer and strength in Europe were key drivers.
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By Charles Marleau CIM® and William Mitchell CIM®
By Charles Marleau CIM® and William Mitchell CIM®