Posted 11/2/2023, 11:46:47 AM
Shopify Beats Q3 Estimates as Merchant Business Booms
- Shopify's Q3 earnings and revenue topped analyst estimates as merchant business grew.
- Earnings swung to a profit of 24 cents per share from a 2-cent loss a year ago.
- Revenue rose 25% to $1.7 billion versus expectations of $1.67 billion.
- Gross merchandise volume from merchant transactions increased 22% to $56.2 billion.
- Shopify recently sold its delivery and logistics business to Flexport, easing worries over capital spending.