US-listed shares of Shopify Inc. added over 14% during the premarket trade on Tuesday after exceeding expectations in its third-quarter report.
The global commerce company's revenue for the trimester amounted to $2.16 billion, surpassing the projected $2.12 billion. Net income reached $828 million, improving compared to the $718 million in the same period last year. Additionally, earnings per share (EPS) exceeded expectations at $0.78. The company also provided a positive outlook for the fourth quarter, anticipating "revenues to grow at a mid-to-high-twenties percentage rate on a year-over-year basis."
The company's stock improved by 14.28% to trade at $102.84 per share at 7:29 am ET.
