Shopify Shares Slip Despite Q3 Beat as GMV and Profit Top Views Amid Tariff Headwinds

Core Insights - Shopify reported third-quarter results that exceeded expectations, indicating resilience in its merchant base despite U.S. tariffs [1] - Despite strong performance, shares declined over 3% intra-day [1] Financial Performance - Revenue increased by 32% year over year to $2.84 billion, surpassing the consensus estimate of $2.76 billion and slightly exceeding the previous quarter's growth rate of 31% [2] - Gross merchandise value rose 32% to $92.01 billion, compared to projections of $88.87 billion [2] - Operating profit reached $343 million, exceeding estimates of $311.4 million, while total operating expenses were approximately $1.05 billion, aligning with expectations [2] Strategic Investments - The company is continuing to invest in AI-enhanced services aimed at assisting merchants with site creation, sales analytics, and marketing content, amidst ongoing tariff-related uncertainties affecting pricing, sourcing, and input costs [3]