Stock news for investors: Quarterly profits up at Shopify, Brookfield; down at Suncor, Reuters

The Ottawa-based e-commerce software company’s net earnings for the second quarter compared with a US$171 million profit it posted a year ago.

The firm, which keeps its books in U.S. dollars, says the profit amounted to 69 cents US per diluted share attributable to shareholders compared with a loss of 13 cents US per diluted share a year earlier.

Shopify says its net income excluding the impact of its equity investments for the quarter ended June 30 amounted to US$338 million, up from US$291 million a year ago.

Revenue totalled US$2.68 billion for the quarter, up from US$2.04 billion in the same quarter last year. 

Subscription solutions revenue reached US$656 million, up from US$563 million a year ago, while merchant solutions revenue was US$2.02 billion, up from US$1.48 billion.

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Suncor reports $1.13 billion Q2 net income, revises down spending estimate

Suncor Energy Inc. says its second-quarter earnings were down from last year, largely on lower oil prices, as it also revised down its expected capital spending for the year. The oilsands producer says it had a net income of $1.13 billion for the quarter ending June 30, down from $1.57 billion in the same quarter last year. The lower profit came despite record second-quarter production and refinery throughput after completing major maintenance work.

Suncor says adjusted operating earnings worked out to $873 million, down from $1.63 billion in the same quarter last year. Adjusted earnings were 71 cents per share, down from $1.27 last year, while the mean analyst estimate was for 69 cents per share, according to LSEG Data & Analytics.