Global marketsUpdated November 3

Revenue grew 32% as subscription margins fell

The miss didn’t mean sales had stopped growing: The Information reported that Shopify’s September-quarter revenue rose 32% year over year to $3.7 billion. At the same time, gross profit margin in its subscription business fell, with higher AI spending contributing in part. The Information put the stock’s decline at 7.6%. The quarter paired strong revenue growth with a drop in subscription margin.

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Coverage started November 3