Shopify reports US$462M Q3 net income, revenue up more than 30 per cent

Shopify Inc. announced a third-quarter net income of US$462 million, a significant increase from US$264 million in the same period last year. This represents a more than 30 per cent rise in revenue. The e-commerce giant, whose financials are recorded in U.S. dollars, reported a profit of 36 cents U.S. per diluted share for the quarter ending September 30, compared to 20 cents U.S. per diluted share a year earlier.

Adjusted for certain factors, Shopify's profit per diluted share was 49 cents U.S., up from 34 cents U.S. in the same quarter last year. Revenue for the quarter reached US$3.74 billion, up from $2.84 billion in the same period last year. Subscription solutions revenue alone amounted to US$836 million, up from $699 million a year ago, while merchant solutions revenue totaled $2.91 billion, up from $2.15 billion in the same quarter last year.

For the fourth quarter, Shopify anticipates revenue growth of between 30 and 33 per cent year-over-year.