Shopify shares fell as much as 20% in premarket trading after Q3 revenue rose
32% YoY to $3.74bn, slightly below the Street view of $3.75bn — the company’s
first revenue miss since Q2 2022. Subscription solutions revenue missed
estimates and dragged results; merchant solutions, the largest segment, was
roughly in line. Gross merchandise volume (GMV) also missed expectations.
Research firm Vital Knowledge said the revenue miss, softer GMV and a mixed
outlook are likely to be viewed negatively by the market. As of Monday’s close
the stock was down 3% year-to-date.
