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The Daily Earnings Reports Podcast is your go-to podcast for the latest corporate financial news. Every trading day, we dive deep into the earnings reports of publicly traded companies, breaking down key metrics, analyzing market reactions, and offering expert insights. Stay informed, make informed investment decisions, and gain a competitive edge in the dynamic world of finance.
Episodes
Tuesday Nov 12, 2024
Tuesday Nov 12, 2024
Key Highlights:
- Accelerated Revenue Growth: Shopify reported strong Q3 2024 results with a 26% year-over-year revenue increase, reaching $2.162 billion. This marks the sixth consecutive quarter of exceeding 25% revenue growth (excluding logistics).
- Expanding Profitability: Free cash flow margin expanded to 19% in Q3, demonstrating consistent improvement in profitability and operational leverage. CFO Jeff Hoffmeister stated, "These results demonstrate the durability of our business, our multiple avenues for growth and continued discipline of balancing both future growth investment and operational leverage.”
- Strong Merchant Adoption: The platform's Gross Merchandise Volume (GMV) reached $69.715 billion, a significant increase from $56.205 billion in the same period last year. Monthly Recurring Revenue (MRR) also saw a robust increase, reaching $175 million compared to $137 million in Q3 2023.
- Positive Outlook: Shopify projects continued momentum in Q4 2024, expecting a mid-to-high-twenties percentage revenue growth rate year-over-year. They also anticipate gross profit dollar growth similar to Q3 2024 and a free cash flow margin comparable to Q4 2023.
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