Shopify beats Q2 revenue estimates

Shopify beat analysts' estimates for second-quarter revenue and forecast an upbeat current quarter as its e-commerce services attracted more merchants following the launch of AI-enabled tools, reports Reuters.

Shopify reported a 21 per cent jump in second-quarter revenue to $2.05 billion, compared with analysts' average estimate of $2.01 billion, according to LSEG data.

Early in June, Shopify launched its biggest shopping event this year, the Shop Week, which included cash backs and offers from over a thousand brands.