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Shopify Inc. executives believe the shift toward online sales triggered by the COVID-19 pandemic is here to stay.
A sign is seen outside the Shopify headquarters in Ottawa, Tuesday September 1, 2020. THE CANADIAN PRESS/Adrian Wyld
Shopify Inc. executives believe the shift toward online sales triggered by the COVID-19 pandemic is here to stay.
Chief executive Tobi Lutke and president Harley Finkelstein said Wednesday that early patterns emerging in lockdown-free countries like New Zealand and Australia show consumers have embraced e-commerce even after COVID-19 restrictions are lifted and they expect North America to eventually see the same.
Shopify sees 110 percent year-over-year revenue growth as e-commerce continues to boom amid pandemic
Shopify continued to see massive growth in the first quarter of 2021 with revenue, income and gross profit all significantly increasing year-over-year.
Shopify’s total revenue for the first quarter of this year was $988.6 million, an increase of 110 percent year-over-year. The company’s gross profit was up 117 percent to $558.7 million, compared with $257 million for the first quarter of 2020. All numbers are in USD.
The Ottawa-based company’s net income for the quarter was $1.25 billion, or $9.94 per diluted share. This is compared with a net loss of $31.4 million, or $0.27 per diluted share. Shopify’s net income also included a $1.3 billion unrealized gain on its equity investment in Affirm, which went public in January.
Shopify says shift toward e-commerce is permanent as Q1 net income soars to US$1.26B kitchenertoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitchenertoday.com Daily Mail and Mail on Sunday newspapers.
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In this Behind the Headlines podcast episode, OBJ publisher Michael Curran speaks with OBJ editors David Sali and Peter Kovessy about some of the week’s biggest local business stories.
This is an edited transcript of the panel discussion. To hear the full interview, please watch the video above. Prefer an audio version of this podcast? Listen to it on SoundCloud or Spotify.
MC: Three of Shopify’s highest-ranking executives are leaving the Ottawa-based e-commerce giant. Chief talent officer Brittany Forsyth, chief legal officer Joe Frasca and chief technology officer Jean-Michel Lemieux are expected to end their lengthy tenures with the company in June. Peter, what’s the significance of this shakeup?
Shopify Changes C-Suite in Midst of Fulfillment Plan businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.