Shopify AI Traffic Surges 7x as Revenue Jumps 32% to $2.84 Billion Despite Missing Profit Estimates
Summary
Shopify's AI traffic explodes 7x and AI-driven purchases surge 11x since January as the e-commerce giant partners with OpenAI and Microsoft, driving Q3 revenue up 32% to $2.84 billion despite stock decline from missing profit targets by $3 million.
Key Points
- Shopify reports AI traffic to its online stores increases 7x since January while AI-driven purchases surge 11x during the same period
- The e-commerce platform partners with OpenAI, Perplexity, and Microsoft Copilot to integrate shopping experiences into AI conversations as 64% of shoppers express likelihood to use AI for purchases
- Shopify's Q3 revenue jumps 32% to $2.84 billion with $264 million profit, though stock drops as operating income of $434 million falls short of $437 million estimates