Shopify drops 5% pre-market after Q3 operating income slightly misses ($434M vs $437M est) despite 32% revenue jump to $2.84B and strong GMV

Shopify (SHOP) stock fell after the e-commerce platform provider reported third-quarter operating income that missed estimates while revenue beat. The company's December quarter sales outlook met expectations amid its expansion into enterprise and international markets.

The e-commerce software maker reported Shopify earnings before the market open. Excluding equity investments, operating income rose 53% to $434 million versus estimates of $437 million, according to FactSet.

Also, revenue climbed 32% to $2.844 billion. Shopify stock analysts polled by FactSet predicted revenue of $2.757 billion.