SHOP reported revenue of $1.71 billion, a 25% year-over-year increase, which exceeded the estimated $1.67 billion.
Subscription revenue amounted to $486 million, showing a 29% YoY increase and above the estimated $471.4 million. Gross merchandise volume for the quarter was $56.2 billion, marking a 22% increase on an annual basis. Analysts were looking for $54.42 billion.