01:30 PM EST, 11/04/2025 (MT Newswires) -- Shopify ( SHOP ) posted better third-quarter results with GMV and revenue ahead of Street estimates and slightly accelerating on a reported and constant currency basis, notes Deutsche Bank.

GMV posted 30% growth at constant currency (32% reported), compared with 29% in the second quarter. "This likely signals momentum in Europe continues along with broader share gains in the US."

Gross Profit was up 24% vs guidance for low-20s despite margins slightly lower.

Fourth-quarter guidance was also equally strong from a revenue and gross profit perspective.

"Overall, our initial impressions are that 3Q results reinforce our view that Shopify's ( SHOP ) near term growth will be driven more from sustainable (perhaps even accelerating) GMV growth as Shopify ( SHOP ) is successful with its International, POS, and Enterprise offerings."

Shopify ( SHOP ) is rated Buy, with a US$185 price target.

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