Shopify Q3 revenue rises 32%, GMV hits $119 bln
SHOP•Shopify’s third-quarter revenue rose 32% year over year to $3.74 billion, while gross merchandise volume reached $119.15 billion and adjusted EPS was $0.49. The company expects fourth-quarter revenue growth at a low-thirties percentage rate year over year.
1. Quarterly results
Shopify reported third-quarter revenue of $3.74 billion, up 32% year over year. Adjusted earnings per share were $0.49, and gross merchandise volume rose to $119.15 billion.
2. Revenue outlook
Shopify expects fourth-quarter revenue to grow at a low-thirties percentage rate year over year and gross profit dollars to increase at a high-twenties percentage rate. It expects operating expenses to equal 29% to 30% of revenue.
3. Business drivers
Merchant solutions revenue rose 35% year over year, while subscription solutions revenue increased 20%, supported by higher monthly recurring revenue. The company reported a 22% free cash flow margin for the quarter.
