Shopify Q2 revenue jumps 36% to $3.6 billion on AI
Technology
Shopify just posted a 36% jump in Q2 revenue, reaching $3.6 billion, easily topping Wall Street's $3.4 billion estimate.
A driver? AI-powered search tools, which President Harley Finkelstein called "a complement to search, rather than a substitute."
AI tripled traffic and orders
AI didn't just boost sales: it tripled traffic and orders from last year and caused gross operating profit to climb 31% to $1.71 billion.
Unlike old-school keyword searches, Shopify's AI suggests products by actually understanding what you're looking for, sending shoppers straight to product pages 2.5 times more often and opening up new categories for merchants.
The company is doubling down on this tech by bringing in tools like ChatGPT and Claude.