Shopify Inc (TSX:SH., NYSE:SHOP) shares moved higher in premarket trade on Monday after the eCommerce solutions provider reported record Black Friday sales from its merchants.
It said that businesses using the Shopify platform generated a combined $4.1 billion in sales, up 22% from the previous year.
Shopping peaked at $4.2 million per minute at 12.01pm Eastern Time on Friday.
The top-selling countries were the United States, the United Kingdom and Canada and the most popular product categories were clothing, personal care, and jewelry, Shopify said.
"Another epic, record-breaking Black Friday in the books for Shopify merchants," Shopify president Harley Finkelstein said in a statement.
"The world showed up for our merchants, and the excitement is only building, with Cyber Monday still to come."
Shopify shares were up 3.8% at US$73.05 before Monday’s opening bell. The stock has gained 104.7% so far in 2023.
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