Shopify tumbles on weak outlook after a very strong start to 2024
Yahoo Finance -

Shopify plunged Wednesday after the Canadian company that helps retailers with online sales warned of easing revenue growth and thinner margins in the current quarter. Shopify Inc. is predicting that revenue will climb by a high-teens percentage rate for the second quarter, well below the 23% jump in the first quarter. The e-commerce company anticipates quarterly gross margin will decrease by about 50 basis points compared with the first quarter, in which its gross margin was 51.4%.

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