Shopify Unite 2021 screenshot
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As people return to the real world, Shopify’s growth returns to pre-pandemic levels

OTTAWA — After a ride on the COVID-19 online-shopping rocket ship, Shopify’s growth is returning to pre-pandemic levels.

Though it continues to get bigger, the Ottawa-based commerce company missed market targets for the first time in a long time. It reported US$1.12 billion in revenue in the third quarter, up 46 per cent. Discounting its equity stakes in other firms, Shopify posted adjusted net income of US$102.8 million, or US$0.81 per share, under analysts’ consensus estimate of US$1.23, compiled by FactSet.

Shopify’s stock still rose nearly nine per cent in early Thursday afternoon trading.

Here’s a breakdown of the numbers that matter in Shopify’s third-quarter earnings:

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