Net profit soared 501%! Shopify's third-quarter revenue increased 46.5%

According to foreign media reports, on October 28, Shopify released its third-quarter financial report for 2021 ending September 30 .

According to the financial report, the company 's total revenue for the quarter was as high as $1.124 billion, compared with $767 million in the same period last year, a year-on-year increase of 46.5% , but lower than previous expectations - in the past four quarters, the company's revenue has exceeded general expectations three times. Net profit was as high as $1.148 billion, compared with $191 million in the same period last year, a year-on-year increase of 501%.

Specifically, subscription solution revenue was US$336 million, compared with US$245 million in the same period last year, a year-on-year increase of 37.1% ; business solution revenue was US$788 million, compared with US$522 million in the same period last year, a year-on-year increase of 51%; the company's monthly recurring revenue (MRR) was US$98.8 million, a year-on-year increase of 33%; the total merchandise volume (GMV) was US$41.8 billion, a year-on-year increase of 35%; the total transaction volume (GPV) was US$20.5 billion, accounting for 49% of the GMV this quarter, compared with US$14 billion in the same period last year, accounting for 45%.

Since the outbreak began in March 2020 , offline retailers have been hit hard, and Shopify's revenue has soared as merchants rushed to build or expand their online businesses . In the four quarters since the outbreak began, Shopify's revenue increased by about 100%. Currently, the company has about 12,000 employees and has completed billions of dollars in financing, with a cash balance of $7.5 billion at the end of September.

According to Shapero , an executive at the company , in recent months, as vaccination has become very widespread, people have begun to go out and spend money on services, entertainment, entertainment and store shopping. "So in July, we saw that overall retail sales actually declined, and that's because e-commerce activity declined as places began to lift restrictions ," she said.

"But then we saw a rebound in e-commerce in August, mainly due to people returning to work and children starting to go back to school , and people's reliance on e-commerce increased again . "

Shopify President Harley Finkelstein also announced the company's addition of some big new customers, including Muji , L' Occitane , Spanx, Dockers and the Lolavie beauty line launched by actress Jennifer Aniston .

Shopify expects revenue of $1.37 billion in the next quarter and to generate approximately $4.6 billion in revenue this year, which would represent an increase of more than 55% compared to 2020.

Shopify

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