Shopify Inc. (TSE:SHOP) has released an update.
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Shopify Inc. reported robust financial results for Q1 2024, with a notable 23% increase in revenue and a 33% rise in gross profit. The company’s free cash flow margin impressively doubled from the previous year to 12%, indicating strong operational efficiency and growth. Shopify’s forward momentum is attributed to the expansion of its merchant solutions and subscription services, alongside strategic adjustments such as the sale of its logistics businesses.
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