Shopify shares plunge 18% on weak guidance

Shopify president on Q1 results: Seeing the strongest version of Shopify in our 20-year history

Shopify shares tumbled 18% on Wednesday, shaving almost $20 billion off the company’s value, after the company

revenue and profit guidance for the current quarter that spooked investors.

Here’s how the company did for the first quarter, compared with consensus expectations from LSEG:

  • Earnings per share: 20 cents adjusted vs. 17 cents expected
  • Revenue: $1.86 billion vs. $1.85 billion expected

The better-than-expected first-quarter results…

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