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Shopify beats estimates for quarterly results on AI boost, shares soar

Economic Times

Economic Times · 1y ago

Shopify beats estimates for quarterly results on AI boost, shares soar

Shopify exceeded expectations for its second-quarter results and predicts positive sales growth, driven by its AI-powered tools attracting more e-commerce merchants. The Canadian company, which assists small and medium businesses with creating online stores and selling products, has seen increased adoption of its artificial intelligence features. Shopify reported a 21% increase in Q2 revenue to $2.05 billion, surpassing analysts' estimates of $2.01 billion. Gross merchandise volume also rose by 22% to $67.2 billion. The company expects third-quarter revenue to grow at a low-to-mid-twenties percentage rate year-over-year.

Related News

Expedia beats profit estimates, announces $5 billion share buyback

Economic Times

Economic Times · 1y ago

Expedia beats profit estimates, announces $5 billion share buyback

Online travel booking company Expedia Group has announced a $5 billion share buyback plan following a better-than-expected quarterly profit. The company experienced a boost in demand for international travel, leading to resilient demand and higher rates, which increased margins. The rise in bookings during the Independence and Labor Day holiday weekend also contributed to its strong performance. Expedia's quarterly revenue rose 8.6% to $3.93 billion, surpassing estimates of $3.86 billion. Shares of the company rose by 10% after the announcement.

Oracle shares soar as AI cloud demand propels revenue forecast

Economic Times

Economic Times · 2m ago

Oracle shares soar as AI cloud demand propels revenue forecast

Oracle shares rose nearly 8% in premarket trading following an increase in its annual revenue forecast, attributed to growing demand for AI-related cloud services. The company expects total revenue to reach at least $67 billion by fiscal 2026. Oracle's cloud services' quarterly revenue increased by 14% to $11.70 billion, surpassing overall revenue estimates. Analysts highlight Oracle's renewed popularity driven by cloud innovations, positioning it competitively against Microsoft and Amazon in the software sector.

Cisco beats earnings expectations as AI spurs networking gear demand

Economic Times

Economic Times · 9m ago

Cisco beats earnings expectations as AI spurs networking gear demand

Cisco Systems exceeded expectations in its first-quarter results, driven by increasing demand for its networking gear in the midst of the AI boom. The company predicts higher quarterly revenue and profit than anticipated, thanks to investments in AI technologies that require data centers utilizing Cisco's products. To diversify its business, Cisco aims to reduce reliance on its networking equipment division by focusing on areas such as cybersecurity, cloud systems, and AI-driven products. Despite facing supply chain issues and a downturn in demand, the company completed its acquisition of Splunk, enhancing its software business and cybersecurity capabilities. The company expects second-quarter revenue to surpass estimates, along with a rise in adjusted profit per share. Cisco forecasts annual revenue and adjusted profit within an optimistic range.

Shopify forecasts third-quarter revenue above estimates - The Economic Times

Economic Times

Economic Times · 22d ago

Shopify forecasts third-quarter revenue above estimates - The Economic Times

Shopify forecasts its third-quarter revenue to rise at a mid-to-high twenties percentage rate, exceeding analyst estimates of 21.54%, driven by strong ecommerce demand despite trade uncertainties. The company has seen robust growth across regions and maintains a resilient merchant base, particularly benefiting from AI-powered service enhancements. This optimistic outlook boosted Shopify's shares by nearly 20%, confirming strong retail demand similar to positive results reported by Amazon. Second-quarter revenue rose 31% year-over-year.

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Economic Times

Economic Times · 10m ago

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Snap, the parent company of Snapchat, exceeded Wall Street's expectations in terms of quarterly revenue and user growth. The company has been successful in attracting advertisers back by improving its ad features. Snap also announced a share repurchase program worth up to $500 million. While Snap initially experienced a stock decline after the news, shares eventually rose to $12. The company has faced challenges from competitors like Facebook and Meta Platforms, but has invested in machine learning and made advertising on Snapchat more accessible to small and medium-sized businesses. In Q3, Snap's revenue reached $1.37 billion, surpassing the average analyst estimate. Snap anticipates Q4 revenue between $1.51 billion and $1.56 billion, and the company expects its new ad formats to boost demand from large advertisers. Daily active users grew by 9% YoY to 443 million, surpassing analyst estimates of 441 million. Snap also reported adjusted earnings per share of 8 cents, higher than the anticipated 5 cents.

Microsoft shares slide 5% as cloud forecast, AI spending disappoint

Economic Times

Economic Times · 7m ago

Microsoft shares slide 5% as cloud forecast, AI spending disappoint

Microsoft's cloud computing business forecast fell short of expectations, causing its shares to drop by 4.5%. Despite beating quarterly sales estimates, concerns linger over high spending in AI and competition from cheaper Chinese models. Azure's growth projections are below expectations, with revenue growth missing estimates. Microsoft's capital expenditures exceeded expectations, and the rise of Chinese AI models like DeepSeek has heightened price war fears. Investors seek assurance on the monetization of significant AI investments.

GameStop misses revenue estimates on slow videogame demand, competition

Economic Times

Economic Times · 1y ago

GameStop misses revenue estimates on slow videogame demand, competition

GameStop fell short of quarterly revenue estimates due to increased competition and reduced consumer spending amid economic uncertainty. The company reported Q3 revenue of $1.08 billion, missing estimates of $1.18 billion. This comes as the gaming industry faces challenges with uneven spending. GameStop's shares dropped nearly 3% in extended trading. The results are the first since Ryan Cohen joined as CEO and chairman in September, steering GameStop towards e-commerce but also focusing on brick-and-mortar stores. The company managed adjusted breakeven earnings per share and reduced expenses by nearly 24% to $296.5 million.

Apple narrowly beats estimates with boost from iPhone sales

Economic Times

Economic Times · 10m ago

Apple narrowly beats estimates with boost from iPhone sales

Apple reported quarterly revenue of $94.9 billion, slightly surpassing analysts' expectations. The boost in sales came from strong iPhone sales, although there was weakness in revenue from greater China. The company also faced a back-tax charge of $10.2 billion related to a ruling by the EU Court of Justice. Apple's services segment, including Apple Music, iCloud, and the App Store, achieved a new all-time high with revenue of $25 billion. The company's shares were down two percent in after-hours trading following the announcement.

SentinelOne misses quarterly profit estimates, shares fall

Economic Times

Economic Times · 8m ago

SentinelOne misses quarterly profit estimates, shares fall

SentinelOne, a cybersecurity company, reported breakeven earnings for the third quarter, falling short of analyst expectations of a 1 cent profit per share. The company's shares dropped over 12% in after-hours trading. SentinelOne faces stiff competition from larger rivals such as Palo Alto Networks and CrowdStrike, who have also reported strong quarterly results. Despite missing profit estimates, SentinelOne raised its fiscal 2025 revenue forecast and expects fourth-quarter revenue to be $222 million, slightly above market estimates. The company's third-quarter revenue of $210.6 million surpassed expectations.

Chinese ecommerce giant JD beats estimates for quarterly profit

Economic Times

Economic Times · 1y ago

Chinese ecommerce giant JD beats estimates for quarterly profit

Chinese e-commerce giant JD.com reported better-than-expected quarterly profit, driven by a mid-year sales festival and aggressive price cuts. Competing with other major vendors like Alibaba, JD.com has focused on discounting and offering lower-priced goods to attract cost-sensitive consumers. The company's second-quarter profit, excluding certain items, increased by 73.7% to 9.36 yuan per share, surpassing estimates of 6.07 yuan. JD.com's revenue rose 1.2% to 291.40 billion yuan in the quarter. The company's performance reflects the increasing competition and the need for retailers to rely on discounting events to drive growth.

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