OTTAWA, Ontario (AP) — OTTAWA, Ontario (AP) — Shopify Inc. (SHOP) on Wednesday reported second-quarter net income of $1.5 billion.

On a per-share basis, the Ottawa, Ontario-based company said it had net income of $1.16. Earnings, adjusted for one-time gains and costs, were 42 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The cloud-based commerce company posted revenue of $3.58 billion in the period, which also beat Street forecasts. Thirteen analysts surveyed by Zacks expected $3.43 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHOP at https://www.zacks.com/ap/SHOP