Shopify Inc. Q3 2026 Earnings Recap

SHOP.TO Q3 2026 Published November 5, 2026

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Shopify shares fell 2.3% after earnings, a roughly flat reaction. The quarter showed rapid growth, but the transcript does not identify a clear disappointment or investor concern to explain the move.

Earnings Per Share Beat

$0.69 vs $0.66 est.

+4.4% surprise

Revenue Miss

5235619000 vs 5268672000 est.

-0.6% surprise

Market Reaction

Post-Earnings -2.27%

Nov 5 to Nov 12 +4.07%

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Key Takeaways

GMV rose 29.5% to $119 billion, while revenue increased 32% to $3.7 billion.
Free cash flow margin was 22%.
AI traffic was up 2.6x year over year and orders grew 3.3x; the company said volumes remain small.
Shopify said shoppers using Catalog-powered searches converted at 2x the rate of general AI search.
Management described delegated purchasing through personal agents as an early experiment in Q3.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit SHOP.TO on AllInvestView.