Shopify has projected third-quarter revenue growth that exceeds Wall Street consensus estimates, signaling accelerating adoption of its artificial intelligence tools among merchants.
The e-commerce platform reported second-quarter revenue of US$3.58 billion, a 34% year-over-year increase, before issuing the upbeat outlook for the current quarter.
The company attributed the stronger-than-expected forecast to its AI initiatives, which are drawing more businesses to its suite of e-commerce services.
This marks a continued shift in Shopify’s strategy toward embedding generative AI capabilities into its merchant-facing products, aiming to streamline operations for small and medium-sized businesses.
Shares of Shopify (SHOP) rose in early trading following the announcement.
The positive reception reflects investor confidence in the company’s ability to monetize AI features and expand its addressable market beyond traditional e-commerce functionality.