Shopify Reports Revenue of $151.7 Million, a 75 Percent Increase
In its second quarter 2017 financials, Shopify (NYSE: SHOP)(TSX: SHOP) reports total revenue of $151.7 million, a 75 percent increase year-over-year. Of this total, $71.6 million came from Subscription Solutions, representing a 64 percent increase. Shopify attributes this revenue growth to growth in Monthly Recurring Revenue (MRR) as a record number of merchants joined the Shopify platform during the second quarter. Merchant Solutions revenue was $80.1 million, representing growth of 86 percent, driven by growth in Gross Merchandise Volume (GMV).
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