Shopify reported $3.742 billion in third-quarter revenue, up 32%, and $816 million in free cash flow, giving investors a view of sales growth and cash generation as it set its next-quarter outlook.
Gross merchandise volume (GMV) reached $119.145 billion, an increase of 29% from a year earlier. Free cash flow represented 22% of revenue. Revenue growth exceeded GMV growth, with reported rates of 32% and 29%, respectively.
Shopify President Harley Finkelstein said, “We powered $119 billion in GMV.”
The reported revenue was close to the $3.74 billion consensus estimate cited in an EconoTimes preview published before the results.
For the fourth quarter, Shopify forecast revenue growth in the low 30% range from a year earlier.