Shopify sees second-quarter revenue above estimates, profit view drags shares

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Shopify forecast second-quarter revenue above Wall Street estimates on Thursday, signaling the ecommerce company was steadily pulling in sellers even as global trade uncertainty threatens to hit retail businesses. US-listed shares of the company, however, dropped more than 6% in premarket trading. Shopify projected current quarter gross profit dollars to grow at a high-teen percentage rate. Analysts were expecting a 20.2% rise.

Shopify’s upbeat sales forecast comes as a respite amid a slew of lowered or withdrawn company outlooks, as Corporate…



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Shopify sees second-quarter revenue above estimates, profit view drags shares


Shopify forecast second-quarter revenue above Wall Street estimates on Thursday, signaling the ecommerce company was steadily pulling in sellers even as global trade uncertainty threatens to hit retail businesses. US-listed shares of the company, however, dropped more than 6% in premarket trading. Shopify projected current quarter gross profit dollars to grow at a high-teen percentage rate. Analysts were expecting a 20.2% rise.

Shopify’s upbeat sales forecast comes as a respite amid a slew of lowered or withdrawn company outlooks, as Corporate…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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