Q: Please give initial comments on Shopify's quarter; thanks
5i Research Answer:
Revenue accelerated to 26% growth, to $2.16B, beating estimates of $2.12B. Merchant solutions revenue was $1.55B, up 26% and ahead of estimates ($1.52B). Subscription revenue also rose 26%. GMV (gross merchandise volume) rose 24% and was ahead of estimates. Q4 revenue guidance calls for 'mid to high twenties' percentage growth. The conference call is not for another 90 minutes so there is some information still to come. But the results look solid on first blush and the stock is up 15% pre-market.