Shopify stock is surging in premarket trading Thursday after the e-commerce platform handily topped earnings and sales estimates.
Shopify’s revenue rose by 25% this quarter to $1.7 billion, slightly ahead of estimates for $1.67 billion, according to FactSet.Gross merchandise volume was $56.2 billion, up 22% year-over-year. Analysts had expected GMV of $54.3 billion. Newsletter Sign-up The company expects full-year revenue to grow at a mid-20s percentage rate year over year, driven by strong projected fourth-quarter revenue. Margins will also expand in the fourth quarter, the company said.Write to Sabrina Escobar at [email protected]
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