Report
Shopify shares sink after September-quarter revenue misses estimates
September-quarter revenue reached $3.74 billion, below analysts’ estimates, while adjusted earnings beat expectations.
TLDR
Shopify shares fell as much as 17% intraday on Nov. 3 after September-quarter revenue missed estimates, despite an adjusted earnings beat. Gross merchandise volume rose 29.5% to $119.1 billion, though its growth rate slowed from the June quarter. Shopify forecasts revenue growth in the low 30s for the December quarter; analysts’ estimates varied by provider.
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