Shopify Stock Pops on Strong Q2 Earnings

Growth in Subscription Business

Shopify reported strong Q2 earnings, with gross merchandise volume (GMV) jumping 22% to $672 billion, topping the consensus estimate of $657 billion. Monthly recurring revenue also increased 25% to $169 million. The company attributed the growth to the strength of its subscription business.

Key Financial Metrics

Here are some key financial metrics from Shopify's Q2 earnings report:

• GMV increased 22% to $672 billion
• Revenue increased 21% to $2.0 billion
• Gross payments volume came in at $411 billion
• Merchant solutions revenue increased 19%

Outlook

Shopify's strong Q2 earnings and the continued growth of its subscription business are a positive sign for the company's future. Investors are optimistic that Shopify will continue to benefit from the growing e-commerce market. The company's stock price has risen since the earnings announcement, reflecting this optimism.