Shopify’s Q3 earnings exceeded expectations, sending shares up 27% on Tuesday. The Ottawa-based e-commerce giant reported $2.16 billion in revenue, a 26.1% increase from last year. Customers using Shopify tools sold $69.7 billion in goods, boosted by sectors like food, apparel, and skincare, with notable growth in Europe.
Merchant-solutions revenue hit $1.55 billion, as Shopify earns a percentage of client sales. The addition of enterprise clients, including Watches of Switzerland and The Body Shop, supports Shopify’s infrastructure-expansion strategy. President Harley Finkelstein emphasized long-term goals over short-term growth spikes.
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