The Canadian company, which helps small and medium-sized businesses set up an online store and also sell, has been rolling out AI-powered features and increased the availability of such tools in June.
“More and more merchants around the world rely on Shopify’s unified commerce operating system to drive growth and simplify complex operations,” company president Harley Finkelstein said in a statement.
Shopify reported a 21% increase in second-quarter revenue to $2.05 billion, compared with the average analyst estimate of $2.01 billion, according to LSEG data.
Merchants use the Shopify platform to collect, retain, and leverage shopper data for payment collection, order management, targeted advertising, and other related tasks.
Gross merchandise volume, which is the total amount of sales, rose 22% to $67.2 billion in the quarter ended in June.
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Excluding items, Shopify reported earnings of 26 cents per share, beating estimates of 20 cents. In early June, Shopify launched its biggest shopping event this year, Shopping Week, which included rebates and deals from more than a thousand brands.
The company expects third-quarter revenue to grow at a 20% to 30% year-over-year rate, well above estimates of 20.8% growth.
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