Shopify missed earnings on Tuesday, despite reporting better-than-expected fourth-quarter sales.
In premarket trade, shares whipped. This is how the business proceeded:
Revenue: 39 cents per share as opposed to 43 cents per share as anticipated by LSEG
Revenue: $2.81 billion as opposed to the $2.73 billion that LSEG anticipated
Shopify projected revenue growth in the first quarter to be between 20 and 30 percent, which is about in line with analysts’ predictions of 24.4% revenue growth.
Since Q1 is generally our lowest [gross merchandise volume] quarter of the year, we anticipate that the strong merchant momentum from Q4 will continue into Q1, the business stated in its earnings release.
Source (CNBC)
