Shopify Inc. (SHOP) reported a gross merchandise volume (GMV) of $100.7 billion for Q1 2026, marking a 35% year-over-year increase and surpassing $100 billion for the second consecutive quarter. The company’s revenue grew by 34% to $3.17 billion, with gross profit up 32% to $1.55 billion, driven by increased activity in its Subscription and Merchant Solutions.
A significant factor in Shopify’s growth is its AI-driven commerce capabilities, which led to an eightfold increase in AI-powered traffic and a nearly thirteenfold rise in AI-driven orders. Additionally, Shopify Payments processed $67 billion in GMV, accounting for 67% of total GMV, highlighting the growing adoption of its payments ecosystem. This performance positions Shopify favorably in the evolving e-commerce landscape as the company continues to capture digital commerce trends.
For 2026, earnings per share are expected to reach $1.80, reflecting a 53.9% growth year-over-year. Despite a 31.9% year-to-date decline in stock performance, Shopify holds a forward price-to-earnings ratio of 55.89, suggesting it remains competitive when compared to key e-commerce rivals like Amazon and eBay.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
