Categories AlphaGraphs, Consumer, Earnings
SHOP Earnings: Shopify reports 26% growth in Q3 2024 revenue
E-commerce company Shopify Inc. (NYSE: SHOP) Tuesday reported a double-digit increase in third-quarter revenues, reflecting strong performance across all operating segments.
September quarter revenues climbed 26% year-over-year to $2.16 billion, with sales at the Subscription Solutions and Merchant Solutions segments growing 26%.
The company reported net income of $828 million for the third quarter, compared to $718 million in the prior-year period.
“Shopify achieved 26% revenue growth and 19% free cash flow margin this quarter, marking our sixth consecutive quarter of greater than 25% revenue growth excluding logistics. Moreover, we have grown free cash flow margin sequentially each quarter this year, consistent with what we delivered last year,” said Jeff Hoffmeister, CFO of Shopify.
Prior Performance
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