Shares of (NYSE: SHOP) were up 21% as of 10:14 a.m. ET on Thursday following a better-than-expected third-quarter earnings report.
Third-quarter revenue of $1.7 billion was marginally higher than analysts' estimates and represented an increase of 25% over the year-ago quarter. The top-line beat affirms the momentum Shopify has been building in recent quarters, which has 70% year to date.
More businesses are signing up for subscriptions and driving steady growth in the company's merchant solutions business. But the stock is also responding to Shopify's improving profitability on the bottom line.
Source Fool.com