Shopify on Thursday reported a smaller-than-expected loss for the September quarter while revenue topped consensus estimates.
Shopify said it lost 2 cents per share on an adjusted basis as revenue rose 22% to $1.4 billion. Revenue growth re-accelerated after six quarters of slowing growth due to the coronavirus pandemic fading and online shopping normalizing. Analysts expected Shopify to report a loss of 7 cents on revenue of $1.34 billion.
Gross merchandise volume from merchant customers came in at $46.2 billion, up 11%, slightly below estimates of $46.87 billion.
Subscription solution rose 12% to $376.3 million and merchant solutions rose 26% to $989.9 million, both compare to 3Q21.
More numbers –
Monthly recurring revenue – $107 million, up 8% YoY
Gross payment volume – $25 billion
Operating expenses – $1 billion, up 64% YoY
Operating loss – $345.3 million
Gross profit – $662.3 million, up 9% YoY
The company expects both GMV and total revenue in 2022 to be more evenly distributed across the four quarters, similar to 2021.
Stock is up 5% pre-market.
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