07:42 AM EST, 11/04/2025 (MT Newswires) -- Shopify ( SHOP ) , down 2.5% in pre-market trade, said Tuesday that third-quarter net earnings and revenue both advanced.

Net earnings, excluding equity investments, rose to US$367 million, from $344 million. The company did not provide figures for per share amounts.

Revenue jumped 32% to $2.84 billion, from $2.16 billion. Analysts polled by FactSet had forecast $2.72 billion. The company reported that gross merchandise value (GMV) also increased 32% to $92 million.

Shopify ( SHOP ) said free cash flow margin was 18%, down slightly from the 19% reported in the prior year period.

The company expects fourth-quarter revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis, and free cash flow margin to be slightly above the third-quarter.

Shopify ( SHOP ) shares are down $4.35, to $168.59, in New York trade.