• Shopify had $1.1bn in revenue in the quarter, up 57% year-over-year. Net income for the same period was $897mn, most of which was due to a $778mn gain in equity investments, likely from Shopify’s stake in Affirm, a major ‘buy now, pay later’ lender.

• As usual, most of Shopify’s sales ($785mn) came from “Merchant Solutions”, which groups additional services the company offers atop recurring subscriptions charged to online retailers. Sales from subscriptions came at $334mn in the quarter.

• Gross Merchandise Volume (GMV), representing the total worth of transactions made on the Shopify platform, was $42bn in the quarter. Up 40% year-over-year, it’s no surprise that Shopify’s revenue continues to surge, given it takes cuts of transactions made on its platform.

• This June, Shopify opened its Shop Pay payments processing platform to all merchants in the US selling on Facebook and Google. It represents a major strategic play for the company as it opened access to millions of potential merchant customers.

• Shopify has come to be known for beating expectations and delivering strong earnings reports on a regular basis. For that, investors have rewarded the company with a year-to-date jump of 36% on the stock markets. Its current market cap is $191bn.

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