Shopify Q3 Revenue Rises 32% to $3.74B as AI-Agent Traffic Jumps 2.6x and Meta Muse Plugs Into Shop Pay

Shopify beat on EPS at $0.49 (vs $0.46 est) on revenue of $3.74B up 32% YoY, but missed on GMV at $119.15B (vs $120.03B est), sending shares down roughly 7%. The company said AI-attributed traffic is up 2.6x YoY and AI-attributed orders are up 3.3x, with 74% of those purchases coming from outside the top 100 categories. Shopify disclosed a live integration letting Meta's consumer AI agent Muse browse and transact on-platform via Shop Pay, and president Harley Finkelstein framed this as the first holiday where agentic shopping becomes mainstream.