Shopify shares fall after mixed Q3 results
Business · First reported 3 Nov, 13:24 · Updated 14:07
Shopify’s shares fell 9% in early Tuesday trading after gross merchandise volume and subscription-related measures missed analyst estimates, while adjusted earnings and merchant revenue beat estimates.
- Shopify reported adjusted earnings of 49 cents per share, above the 46-cent LSEG estimate, while revenue of $3.74 billion was just below the $3.75 billion estimate.
- Gross merchandise volume was $119.15 billion, below the $120.03 billion estimate; subscription gross profit and subscription revenue also missed estimates, while merchant gross profit and merchant revenue beat them.
- For Q4, Shopify forecast year-over-year revenue growth in the “low thirties” range; the article reports an LSEG estimate of 32.1%.
Summary written by Lux AI from 2 articles
Key facts
- Share move
- Down 9% in early Tuesday trading.
- Adjusted earnings
- 49 cents per share; LSEG estimate was 46 cents.
- Quarterly revenue
- $3.74 billion; LSEG estimate was $3.75 billion.
- Gross merchandise volume
- $119.15 billion; estimate was $120.03 billion.
- Q4 revenue-growth outlook
- “Low thirties” year over year; LSEG estimate was 32.1%.
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- Corporation 50% (1)
- Unknown 50% (1)
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