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Shopify Inc. (SHOP) reported Q3 earnings on Tuesday, showcasing a revenue of $2.84 billion, an increase of 32% year-over-year, surpassing estimates of $2.75 billion. However, its earnings per share (EPS) dipped to $0.34 from $0.36 in the previous year, aligning with analysts’ expectations.
The company experienced a 22% year-over-year growth in Gross Merchandise Volume (GMV), totaling $56.2 billion, driven by enhanced AI tools and expanded point of sale (POS) capabilities. Shopify’s free cash flow surged 78% in Q3 to $507 million, maintaining an 18% margin, and the company anticipates continued revenue growth in the mid to high 20% range for Q4.
Over the past three years, Shopify’s stock has skyrocketed over 400%, compared to Amazon’s 175%. Looking forward, annual EPS is projected to rise by 11% in FY25 and another 21% in FY26, reaching $1.76.
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