Shopify reported first-quarter revenue of $2.36 billion, slightly above the estimated $2.34 billion, marking a 27% year-over-year growth. Gross merchandise volume (GMV) approached $75 billion, with Shopify Payments penetration reaching 64% of GMV. The company expanded into 16 new markets, nearly doubling the number of supported countries to 39, and Shop Pay GMV rose 57% to over $22 billion. Offline GMV increased by 23%, while B2B GMV surged 109% compared to the previous year. International GMV grew 31%, with cross-border sales maintaining 50% of total GMV. Despite the strong financial performance, Shopify's stock dropped 7.1% in pre-market trading. Some merchants have noted that Shopify appears to be pulling back on new loan offers amid increasing trade risks and tariffs on Chinese goods. CEO Harley Finkelstein emphasized the company's agility and ability to deliver growth and profitability at scale, positioning Shopify as a strategic partner for merchants navigating uncertain market conditions.