Shopify Shares Drop 9% Following Q3 Revenue and Gross Merchandise Volume Miss
Shopify (SHOP) shares fell approximately 9% in early Tuesday trading after the e-commerce platform reported third-quarter results that missed key analyst estimates. While the company exceeded earnings expectations with adjusted earnings of $0.49 per share against a projected $0.46, several critical metrics underperformed. Specifically, quarterly revenue reached $3.74 billion, falling slightly short of the $3.75 billion consensus. The miss was further compounded by Gross Merchandise Volume (GMV) coming in at $119.15 billion against an expected $120.03 billion, and subscription gross profit missing estimates by nearly $20 million. Despite these misses, Shopify provided a fourth-quarter revenue growth outlook in the 'low thirties' range.
Tickers: $SHOP
Topics: earnings report gross merchandise volume revenue miss stock price movement
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