Shopify Stock Surges After Strong Q3 Earnings and Optimistic Holiday Forecast

The e-commerce giant's shares soared following a 26% revenue growth and the introduction of AI tools, driving confidence in future performance.

Shopify reported Q3 2024 revenue of $2.16 billion, a 26% increase year-over-year, surpassing analyst expectations.
Net income nearly doubled to $344 million, and free cash flow rose 53% to $421 million, exceeding forecasts.
The company's stock jumped over 25%, boosting Canada's benchmark index to a record high.
Shopify's AI integrations, such as Sidekick and Shopify Magic, have attracted more merchants, enhancing operational efficiency.
For Q4, Shopify anticipates revenue growth in the mid-to-high-twenties percentage, with strong expectations for the holiday season.