Canadian e-commerce giant Shopify has posted strong third-quarter revenue growth, a sizable profit, and an upbeat forecast for the upcoming holidays.

Shopify’s sales climbed 26 percent year-over-year to $2.16 billion USD in Q3, according to its latest earnings report. In a statement, Shopify CFO Jeff Hoffmeister highlighted that this marks Shopify’s sixth consecutive quarter of greater than 25 percent revenue growth excluding the sale of its logistics business in 2023.

The company also posted $828 million in net income in Q3, more than half of which—$484 million—was attributable to the impact of its equity investments. This marks an increase compared to the $718-million profit Shopify generated during the same period last year.

Shopify is also forecasting fourth-quarter revenue growth this year at a mid-to-high-twenties percentage rate relative to Q4 2023 as it heads into the holiday shopping season.

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Disclosure: BetaKit majority owner Good Future is the family office of two former Shopify leaders, Arati Sharma and Satish Kanwar.

Feature image courtesy Shopify.

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