Shopify Soars After Q2 Earnings and Becomes the Top TSX Stock

For years, Shopify (TSX:SHOP)(NASDAQ:SHOP) has been a top company to invest in on the TSX. The Ottawa-based business has been a force in e-commerce, expanding its presence across the globe, enabling businesses to easily sell their products and services online. And with its recent second-quarter results, the company showed yet again, why it’s a solid stock to invest in.

For the second quarter of 2025, the company reported strong sales growth of 31%, with its top line coming in at around $2.7 billion, which is higher than what analysts were expecting -- revenue of around $2.6 billion. It also delivered a solid beat on the bottom line, with Shopify’s adjusted earnings per share coming in at $0.35, versus estimates of $0.29.

What’s even more encouraging is that despite the threat of tariffs, Shopify says it hasn’t been feeling the effects of that at all. Chief Financial Officer Jeff Hoffmeister on the quarter: “We had factored into our guidance some potential impact from tariffs, which did not materialize.” Now, that doesn’t mean that there won’t be an impact from that in future quarters, but it’s a strong sign nonetheless that the business is still doing incredibly well.

Investors were thrilled with Shopify’s results, with the stock jumping in value afterwards. And with the increase, its market cap rose above $260 billion, eclipsing Royal Bank of Canada (TSX:RY)(NYSE:RY) in value, as it became the most valuable Canadian stock. Year to date, shares of Shopify are up over 30%. And it reminds investors why it can be a great growth stock to own for the long haul.