Shopify’s sell-more strategy starts to pay off

By Murad Hemmadi Oct 27, 2022

OTTAWA — Shopify’s moves to become a one-stop-shop for clients’ retail operations are paying off, as the firm exceeded market expectations for the third quarter, even as its merchants’ sales growth continued to tail off.

The commerce-technology company reported US$1.37 billion in revenue between July and September and an adjusted loss of US$0.02 per share; both figures beat analysts’ consensus estimates as compiled by FactSet. Shopify’s stock jumped as much as 19 per cent in Thursday trading on the New York Stock Exchange. Here are the numbers that matter in the company’s third-quarter earnings:

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