E-commerce company Shopify Inc. (NYSE: SHOP) on Wednesday reported an increase in revenue and net income for the second quarter of fiscal 2025. There was a sharp increase in gross merchandise value.
June-quarter revenues climbed 31% year-over-year to $2.68 billion, as sales at the Subscription Solutions and Merchant Solutions segments grew sharply.
The company reported net income of $906 million or $0.69 per share for the second quarter, compared to $171 million or $0.13 per share in the prior-year period. At $87.8 billion, gross merchandise value was up 31% year-over-year.
Harley Finkelstein, President of Shopify, said, “The investments we’re making now will fuel our next chapter. At Shopify, innovation never stops. No matter how good the numbers look, there’s always a new frontier in commerce—and we’ll continue to lead the way.”
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