Shopify shares 17% after Q2 earnings beat and AI outlook

Shares of Shopify surged on Wednesday, August 5, 2026, after the Canadian e-commerce giant reported second-quarter earnings that significantly exceeded analyst expectations and issued a strong forecast for the current quarter. The stock climbed as much as 33.8 percent in premarket trading, ultimately settling with a gain of over 17 percent, marking one of its largest single-day rallies in recent history and erasing its year-to-date losses.

The company reported revenue of $3.58 billion for the quarter ended June 30, a 34 percent increase from the same period last year and above the consensus estimate of approximately $3.45 billion. Adjusted earnings were 42 cents per share, surpassing forecasts of 40 cents. A key performance metric, gross merchandise volume (GMV), which represents the total value of goods sold on its platform, rose 32 percent year-over-year to $115.57 billion. Profitability also strengthened, with free cash flow reaching $654 million, an 18 percent margin.

Company president Harley Finkelstein described the period as a "monster quarter," highlighting growth across merchant sizes, sales channels, and geographies. He attributed much of the success to the company's...