NYSE Market Report – November 12, 2024
Spotify Technology S.A. (SPOT)
Price Movement: Spotify shares rose 2.23%, closing at $419.39, with a session high of $420.
Q3 2024 Financial Results: Spotify reported earnings of $1.59 per share, falling short of estimates. However, revenue reached $4.38 billion, surpassing expectations.
Shopify Inc. (SHOP)
Price Movement: Shopify shares soared by 21.04%, closing at $108.92 (+$18.93). The stock climbed over 25% at its peak, reaching $112.97, marking the largest single-day gain on record.
Q3 2024 Financial Results: Shopify reported an EPS of $0.36, beating analyst expectations by 27.67%. Revenue came in at $2.228 billion, also surpassing forecasts of $2.151 billion.
Main Driver:
Shopify's growth was largely driven by strong performance in European markets, especially in the Netherlands, Germany, and France, which significantly boosted its gross merchandise volume (GMV).
Spotify Technology S.A. (SPOT)
Price Movement: Spotify shares rose 2.23%, closing at $419.39, with a session high of $420.
Q3 2024 Financial Results: Spotify reported earnings of $1.59 per share, falling short of estimates. However, revenue reached $4.38 billion, surpassing expectations.
Shopify Inc. (SHOP)
Price Movement: Shopify shares soared by 21.04%, closing at $108.92 (+$18.93). The stock climbed over 25% at its peak, reaching $112.97, marking the largest single-day gain on record.
Q3 2024 Financial Results: Shopify reported an EPS of $0.36, beating analyst expectations by 27.67%. Revenue came in at $2.228 billion, also surpassing forecasts of $2.151 billion.
Main Driver:
Shopify's growth was largely driven by strong performance in European markets, especially in the Netherlands, Germany, and France, which significantly boosted its gross merchandise volume (GMV).