Shopify Shares Fall After 32% Revenue Growth Misses Estimates
Shopify Inc. reported third-quarter revenue growth of 32% and $119 billion in gross merchandise volume, though shares declined as revenue missed market expectations.
Shares of Shopify Inc. declined following the release of third-quarter financial results for the period ending September 30, 2026. The company reported 32% year-over-year revenue growth to $3.742 billion, a figure that missed market expectations despite representing significant growth. Net income for the quarter reached $462 million, and operating income rose to $568 million from $343 million in the previous year.
Financial performance included adjusted earnings per share of 49 cents, which exceeded the 47-cent consensus estimate. The company powered $119.145 billion in gross merchandise volume and maintained a free cash flow margin of 22%. Management attributed these results to an expanding addressable market and the strength of the company's business model.
Looking ahead to the fourth quarter, Shopify projects revenue growth in the low-thirties percentage range and gross profit growth in the high-twenties percentage range. The company also recently expanded its technical capabilities by integrating the Muse AI agent into Shopify stores via the Shop Pay checkout service.
