12:25 PM EDT, 08/07/2024 (MT Newswires) -- (Updates with the stock price movement in the headline and the first paragraph.)

Shopify ( SHOP ) shares jumped more than 23% in recent trading on Wednesday after it posted Q2 adjusted earnings and revenue gains.

The company reported Q2 adjusted earnings of $0.26 per diluted share, up from $0.14 a year earlier.

Analysts polled by Capital IQ expected $0.20.

Revenue for the quarter ended June 30 was $2.05 billion, up from $1.69 billion a year earlier.

Analysts polled by Capital IQ expected $2.01 billion.

For Q3, revenue is expected to grow at a low-to-mid-twenties percentage rate, Shopify ( SHOP ) said. Analysts surveyed by Capital IQ are looking for revenue of $2.07 billion.

Price: 66.87, Change: +12.65, Percent Change: +23.33