OTTAWA – Shopify Inc. reported a third-quarter profit of US$264 million as its revenue rose 32 per cent compared with a year ago.

The company, which keeps its books in U.S. dollars, says the profit amounted to 20 cents US per diluted share for the quarter ended Sept. 30 compared with a profit of US$828 million or 64 cents US a year ago.

On an adjusted basis, Shopify says it earned 34 cents US per share in its latest quarter compared with an adjusted profit of 36 cents US per share a year ago.

Revenue for the quarter totalled US$2.84 billion, up from US$2.16 billion in the same quarter last year.

The increase came as merchant solutions revenue amounted to US$2.15 billion, up from US$1.55 billion a year ago, while subscription solutions revenue totalled US$699 million, up from US$610 mil

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