Summary by Moomoo AI
Shopify Inc. reported its interim financial statements for the third quarter ended September 30, 2024, revealing a net income of $828 million, a significant improvement from the $718 million reported in the same period the previous year. The company's revenues increased to $2.162 billion, up from $1.714 billion in Q3 2023, driven by growth in both subscription solutions and merchant solutions. Operating expenses were $835 million, compared to $779 million in the prior year. The company also reported a net unrealized gain on equity and other investments of $512 million. Shopify's balance sheet showed a strong cash and cash equivalents position of $1.507 billion, and total assets of $12.329 billion. The company's shareholders' equity also increased to $10.118 billion. The financial results were filed with the SEC and are incorporated by reference into the company's various registration statements.
