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Reuters
Shopify’s revenue forecast fails to impress, shares fall
(Reuters) -Shopify Inc on Wednesday forecast slowing revenue growth for the current quarter despite price hikes and new product launches, signaling that macroeconomic challenges were weighing on its merchants’ online businesses. U.S-listed shares of Shopify, which started 2022 as the most valuable Canadian company before losing three-quarters of its value, fell about 11% in extended trading, even after holiday-quarter results surpassed estimates. “Our perspectives on outlook assume that inflation remains elevated, pushing consumers to discounted and non-discretionary purchases,” Chief Financial Officer Jeff Hoffmeister said on the earnings call.
