(Ottawa) Shopify on Thursday posted third-quarter net profit of US$718 million, compared with a loss of US$159 million for the same period last year, while its revenue rose 25% year-on-year. .
The e-commerce solutions company said its earnings per share rose to 55 US cents for the quarter ended September 30, compared with a loss per share of 12 US cents in the third quarter of last year.
Quarterly revenues totaled US$1.71 billion, up from US$1.37 billion last year.
Subscription revenues climbed to US$486 million, compared to US$377 million a year earlier, while merchant solutions revenues totaled US$1.23 billion, up from US$989 million last year.
On an adjusted basis, Shopify said it earned 24 US cents per share in the most recent quarter, compared with an adjusted loss of 2 US cents a year earlier.
Analysts on average expected an adjusted profit of 14 US cents and revenue of US1.67 billion, according to forecasts collected by financial data firm Refinitiv.