reported first-quarter earnings that fell short of analysts’ expectations on profit and revenue, sending shares of the e-commerce company lower in pre-market trading on Thursday.
In pre-market trading, shares were down nearly 14 per cent, sitting at US$418 on the New York Stock Exchange around 8 a.m. Gross merchandise volume, a figure that shows the value of sales through Shopify’s platform, grew 16 per cent in the first quarter from a year earlier to US$43.2-billion. That’s also behind analyst projections of US$46.5-billion.
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