Shopify Revenue Climbs 32% as Third-Quarter Free Cash Flow Reaches $816 Million
Photo: TokenPost
Shopify (SHOP) reported third-quarter revenue of $3.742 billion, up 32% year over year, and free cash flow of $816 million, while forecasting low-30s revenue growth for the fourth quarter. Gross merchandise volume rose 29% to $119.145 billion. Free cash flow represented a 22% margin. Shopify President Harley Finkelstein said, “We powered $119 billion in GMV, while continuing to build commerce into every surface, every agent, and increasingly, everywhere.” For the fourth quarter, Shopify projected year-over-year revenue growth in the low 30% range. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
