Shopify's shares surged 19.6% post-earnings, driven by substantial GMV and revenue growth that strongly outpaced typical metrics, underscoring broad-based strength across merchants, geographies, and emerging AI-powered commerce channels.
- Gross Merchandise Volume (GMV) rose 32% to $116 billion, marking the fifth consecutive quarter with GMV growth above 30%.
- Revenue increased 34% to $3.6 billion, reflecting broad strength across merchant sizes, geographies, and sales channels.
- Free cash flow margin remained healthy at 18%, supporting durability of growth.
- AI-driven commerce showed promising momentum, with agentic channel traffic and orders tripling year-over-year and new buyer orders arriving at nearly twice the rate of other channels.
- Strategic investments in the Catalog product and Universal Commerce Protocol position Shopify as a critical infrastructure provider for next-generation, AI-enabled commerce experiences.
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