Shopify's third-quarter revenue rose 32% to $3.74 billion, while operating income jumped about 66% to $568 million. Growth leaned on payments rather than subscriptions, which thinned gross margin, but tighter spending more than offset the squeeze. Gross profit grew 28%, slower than revenue, while operating expenses rose about 16%. Monthly recurring revenue reached $230 million from $193 million, and merchant solutions made up 78% of revenue. Management expects fourth-quarter revenue to grow at a low-thirties percent rate and gross profit at a high-twenties percent rate.
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