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Shopify (SHOP) reported a 31.1% year-over-year revenue increase in Q2 2025, totaling $2.68 billion. The company secured partnerships with brands such as Starbucks and Michael Kors, contributing to its growing merchant base and driving significant growth in the Shop App, which saw a 140% increase in gross merchandise value (GMV).
Shopify is facing competition from MercadoLibre (MELI), which reported $15.3 billion in GMV for Q2 2025, a 21% increase year-over-year, and Amazon (AMZN), which enhanced its “Buy with Prime” service, dramatically improving delivery speeds. In contrast, Shopify expects revenue growth in Q3 2025 to be at a mid-to-high single-digit percentage rate.
Year-to-date, Shopify shares have climbed 34.9%, outpacing the Zacks Computer & Technology sector’s 21.2% return. The earnings consensus for Shopify is projected at $1.44 per share for 2025, suggesting a 10.77% year-over-year growth.
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