In this video, I will be going over Shopify's (SHOP -5.62%) second-quarter earnings report and will explain why the stock went up after a disappointing quarter.
- On Tuesday, the company announced it is letting go of 10% of its workforce.
- The company completed the acquisition of Deliverr on July 8. This is going to improve its logistics network over time.
- The company reported revenue of $1.3 billion and a net loss of $1.2 billion.
- Management sees 2022 as a transition year.
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*Stock prices used were the closing prices of July 26, 2022. The video was published on July 27, 2022.