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Shopify to buy U.S.-based startup Deliverr for US$2.1-billion, shares fall as earnings miss forecasts

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On an adjusted basis, Shopify reported earnings per share of 20 US cents, short of the 64 US cents analysts had been expecting

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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