Shopify Soars As Q3 Revenue Surges
Nov 12, 2024 By MarketDepth
Shopify (SHOP) saw over a 20% gain on the day as online retail continues to grow. Gross merchandise volume grew 24% to $69.72 billion, which shows a substantial gains to online orders. The company also saw operating income grow from $122 million in 2023 to $283 million in 2024.
Shopify stock is up over 25% year-to-date and up over 20% on the day. With inflation figures on the decline has helped companies start to see growth on the backend.
The company expects to see continued growth over the next quarter comparable to the current quarter.
