Shopify reports third-quarter revenue up 46 per cent from year ago

Shopify revenue soars

Shopify Inc. reported a third-quarter profit of nearly US$1.15 billion, boosted by an unrealized gain on its equity investments, as its revenue rose 46 per cent from a year ago.

The e-commerce company, which keeps its books in U.S. dollars, says the profit amounted to US$9 per diluted share for the quarter ended Sept. 30 that included a US$1.34-billion unrealized gain on equity investments.

The result compared with a profit of US$191.1 million or US$1.54 per diluted share in the same quarter last year.

On an adjusted basis, Shopify says it earned US$102.8 million or 81 cents per diluted share in its latest quarter, down from an adjusted profit of US$140.8 million or US$1.13 per diluted share a year ago.

Revenue in the quarter totalled US$1.12 billion, up from US$767.4 million a year ago.

Subscription solutions revenue was $336.2 million, up from US$245.3 million a year ago, while merchant solutions revenue was US$787.5 million, up from US$522.1 million in the same quarter last year.

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