Shopify Inc (NASDAQ:SHOP) stock tanked after the company reported fiscal first-quarter 2026 results on Tuesday.
The company’s quarterly revenue growth of 34.32% year-over-year (Y/Y) to $3.17 billion beat the analyst consensus estimate of $3.08 billion.
The e-commerce platform company reported adjusted EPS of 36 cents, topping the analyst consensus estimate of 33 cents.
Key Metrics
The adjusted net income was $360 million compared to $226 million a year ago.
Gross merchandise volume increased 34.77% Y/Y to $100.74 billion. However, growth in constant currency was 30% due to the impact of fluctuations in foreign exchange rates.
Merchant solutions revenue increased 39.08% Y/Y to $2.42 billion. Subscription solutions revenue rose by 20.97% Y/Y to $750 million.
The quarter’s gross …