Shopify Slumps on Downbeat Q2 Outlook: ETFs in Focus
Shopify(SHOP) Zacks Investment Research·2024-05-09 13:40The multi-tenant, cloud-based, multi-channel commerce platform Shopify (SHOP) slumped about 18.6% on May 8 after the company issued a downbeat revenue forecast for the fiscal Q2 2024. On May 8, 2024, the company reported first-quarter 2024 earnings before the market opened.Shopify came up with adjusted quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compared to earnings of $0.01 per share a year ago. This quarterly report represents an earnings surprise o ...