Shopify (TSX: SHOP) delivered an electrifying Q3 earnings report, sending its stock soaring by as much as 27%. Revenue climbed 26% year-over-year to $2.16 billion, outpacing consensus estimates of $2.12 billion. The company’s subscription solutions and merchant solutions each grew over 25%, and free cash flow jumped by 53%, showcasing the tech giant’s robust growth.
Key metrics like gross merchandise volume (GMV) and monthly recurring revenue (MRR) also exceeded expectations, with GMV growing 24% to $69.7 billion and MRR rising 27% to $175 million.
Shopify’s president highlighted massive business-to-business GMV growth of 145% and noted increasing international adoption. Major brands like Reebok and Victoria’s Secret are onboarding Shopify’s platform, signaling its dominance in the e-commerce space.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
