Shopify Inc. reported a profit of US$906 million in its latest quarter as its revenue grew by 31 per cent.
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.
