Shopify scores a big profit beat, and its stock is surging after earnings

Shopify Inc. shares were surging about 8% in Thursday’s premarket action after the company easily topped profit expectations for its third quarter.

Revenue rose to $1.71 billion from $1.37 billion and edged the FactSet consensus, which was for $1.67 billion. The company saw 29% growth in its subscriptions-solutions revenue, which reached $486 million, along with 24% growth in the merchant-solutions category, which raked in $1.23 billion in revenue.

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