Shopify exceeded analysts’ expectations for its second-quarter results, driven by implementing AI-powered tools that attracted more merchants to its platform.
The company’s revenue increased by 21% to $2.05 billion, surpassing the anticipated $2.01 billion, reported Reuters.
Additionally, Shopify’s gross merchandise volume rose by 22% to $67.2 billion, leading to a 17% rise in its shares.
The AI tools, introduced in June, have helped merchants manage buyer data, payments, and advertising more efficiently, noted the report, contributing significantly to Shopify’s growth.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
