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Stock impact report

Shopify shares plunge 18% on weak guidance [CNBC]

FactSet Research Systems Inc. (FDS) 
Last factset research systems inc. earnings: 3/26 07:01 am Check Earnings Report
US:NYSE Investor Relations: investor.factset.com
Company Research Source: CNBC
Shares dropped as much as 18% in premarket trading. Here's how the company did for the quarter, compared with consensus expectations from LSEG: Earnings per share: 20 cents adjusted vs. 17 cents expected Revenue: $1.86 billion vs. $1.85 billion expected Gross margins for the second quarter are expected to decrease by about 50 basis points compared to the first quarter, as a result of the sale of Shopify's logistics business to freight forwarder Flexport last May Shopify said it expects second-quarter revenue to grow at a high-teens percentage rate year-over-year, a slowdown from the previous period. The company has posted year-over-year revenue growth in the low-to-mid twenties for the past six quarters. Second-quarter revenue would grow in the “low-to-mid-twenties” year-over-year when adjusting for the divestiture of the logistics business, Shopify said. The company reported a net loss of $273 million, or 21 cents a share, compared with a profit of 68 million, or 5 cents Show less Read more
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