Shopify tumbles on weak outlook after a very strong start to 2024 [Yahoo! Finance]
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
Last shopify inc. class a subordinate voting shares earnings: 2/12 07:00 am
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Source: Yahoo! Finance
That caught a lot of investors off guard after the company rebounded strongly from the pandemic and started 2024 with a bang. 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%. Shares slid 19.5% in afternoon trading, a bit of a recovery after having been down more than 21% earlier. During a conference call Wednesday, Chief Financial Officer Jeff Hoffmeister said that while consumer spending in North America remains resilient, some softness in Europe and a strong U.S. dollar are factored into its outlook. Europe's economy perked up slightly at the start of the year, recording 0.3% growth in the January-March quarter compared to the last three months of 2023. But the economy has been held back by high inflation
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News
- Proxy advisers recommend investors vote ‘no' on Shopify executive pay [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Avalara Expands Partnership with Shopify to Enable Global Tax Compliance for Merchants [Yahoo! Finance Canada]Yahoo! Finance Canada
- Shopify Inc. (SHOP) is Attracting Investor Attention: Here is What You Should Know [Yahoo! Finance Canada]Yahoo! Finance Canada
- Avalara Expands Partnership with Shopify to Enable Global Tax Compliance for Merchants [Yahoo! Finance]Yahoo! Finance
- Avalara Expands Partnership with Shopify to Enable Global Tax Compliance for MerchantsPR Newswire
SHOP
Earnings
- 5/8/24 - Beat
SHOP
Sec Filings
- 5/17/24 - Form 144
- 5/10/24 - Form SC
- 5/8/24 - Form 6-K
- SHOP's page on the SEC website