Shopify logo
Shopify (Nasdaq: SHOP) reports 3rd quarter revenues of $2.162 billion, 26% higher than $1.714 billion a year ago. Quarterly income soared to $283 million from $122 million.
Gross merchandise volume which is the total value of orders processed by Shopify jumped 24% to $69.72 billion for the quarter ending September 30th.
Shopify enables businesses to build and run online stores by providing hosted websites with tools to manage marketing, shopping carts and shipping. The company recently rolled out its AI assistant, Sidekick, to help speed up the workflow for member merchants.
Over the summer, Shopify had hired a new chief technology officer, Mikhail Parakhin, formerly at Microsoft (Nasdaq: MSFT).
Shopify is trading at $108 a share, up 47% year-to-date.
