Microsoft<\/a>, Shopify has been able to drive demand by helping retailers on its platform reach more customers through AI chatbots or search queries. <\/p>\nShopify’s \u200bAI tools – \u200bsuch as its Sidekick AI assistant – have \u200balso seen steady adoption from small- \u200cand medium-sized businesses that are increasingly leaning on AI to execute tasks faster and cheaper. <\/p>\n
“This was a monster quarter … We power every kind of business, and with AI, we’re expanding what’s possible for all of them,” said Shopify President Harley Finkelstein. <\/p>\n
The company, which generates revenue by taking a cut of sales from sellers on its platform \u200cand selling subscription plans to merchants, said it \u200bsaw solid growth across all merchant sizes, product \u200bcategories, and geographies in the quarter. <\/p>\n
Gross \u200bmerchandise volume (GMV), or the total value of goods sold on Shopify, \u200crose 32% to $115.57 billion during the \u200bquarter ended June, helping \u200btotal revenue jump 34% to $3.58 billion and beat analysts’ average estimate of $3.45 billion, according to data from LSEG. <\/p>\n
Shopify expects third-quarter revenue to grow in the low-thirties \u200bpercentage range, above analysts’ \u200cestimate for a 26.3% increase. It forecast gross profit growth at a \u200bmid-to-high twenties percentage rate, versus expectations of a 24.1% rise. <\/p>\n
(Reporting by Deborah \u200bSophia in Bengaluru; Editing by Shinjini Ganguli) <\/p>\n","protected":false},"excerpt":{"rendered":"Aug 5 – Canada’s Shopify projected current-quarter revenue growth above Wall Street estimates on Wednesday, signaling the company’s…\n","protected":false},"author":2,"featured_media":156571,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,2291,3284,50484],"class_list":["post-156570","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-canada","tag-revenue-growth","tag-shopify","tag-wall-street-estimates"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/156570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=156570"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/156570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/156571"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=156570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=156570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=156570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}