Shopify Inc. (SHOP) reported a 34% year-over-year increase in revenues for Q1 2026, totaling $3.17 billion. Gross merchandise volume (GMV) also rose 35% to over $100 billion for the second consecutive quarter. AI-driven traffic to stores surged eightfold year over year, while orders from AI-powered searches increased nearly 13 times.
Shopify’s AI infrastructure is a major growth driver, with weekly active shops using its Sidekick assistant increasing fourfold year over year. Additionally, Shopify Payments penetration reached 67%, and European GMV grew 48% year over year, boosting the firm’s overall growth momentum.
Despite a 33.1% decline in stock price year-to-date, Shopify’s future earnings per share are projected to grow 52.1% from the previous year, remaining at an estimated $1.78 for 2026. The company continues to face intense competition from Amazon and Wix, but its robust ecosystem and advancements in AI position it for further growth.
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