_shopify-stock-plummets-19-as-slower-sales-growth-forecasted-for-q2shopify-drops-19.jpg "Shopify Stock Plummets 19% as Slower Sales Growth Forecasted for Q2Shopify Drops 19% from rugby player muscle growth full version Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:37
👁 View: 1.2M times
✓ Published: 10-May-2024
👁 View: 1.2M times
✓ Published: 10-May-2024
Description:
Shopify's stock price fell 19% after the company forecast slower sales growth for the second-quarter, down from previous quarters. Adjusting for the sale of its logistics business. Shopify indicated that the sale of its logistics business to Flexport would impact its future financial projections. Chief Financial Officer Jeff Hoffmeister noted that a strong U.S. dollar and weaker consumer spending in Europe, particularly in the United Kingdom, are also expected to affect the company's forward guidance. Shopify reported first-quarter revenue growth of 29%, the fourth quarter in a row exceeding 25% growth.
Shopify's stock price fell 19% after the company forecast slower sales growth for the second-quarter, down from previous quarters. Adjusting for the sale of its logistics business. Shopify indicated that the sale of its logistics business to Flexport would impact its future financial projections. Chief Financial Officer Jeff Hoffmeister noted that a strong U.S. dollar and weaker consumer spending in Europe, particularly in the United Kingdom, are also expected to affect the company's forward guidance. Shopify reported first-quarter revenue growth of 29%, the fourth quarter in a row exceeding 25% growth.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
_beach-guy-2-muscle-growth.webp "Shamiul Alam")
_minneapolis-fed-president-cautious-on-rate-cuts-sees-elevated-rates-through-2024.webp "Minneapolis Federal Reserve President Neel Kashkari said interest rates may need to remain elevated through 2024 for the Fed to see that inflation is firmly declining. Kashkari wants to see multiple reports of progress on reducing inflation before supporting rate cuts, noting he would need positive inflation readings and weaker job growth data showing disinflation is on track. He said the bar for rate cuts is \")
_widescreen-daydreaming-muscle-growth-124-mini-anim-series.webp "Taka")
_nerd-muscle-growth-chewing-gum.webp "Muscle Growth")
_officer-muscle-growth-video.webp "Muscle Growth")
_football-player-muscle-growth-gym-motivation.webp "MIKEY BONASSO")
_brumbies-v-drua-highlights-footage-super-rugby-pacific.webp "Highlights from the ACT Brumbies' 28-20 win over the Fijian Drua at Canberra Stadium on May 4, 2024. Footage: Super Rugby Pacific")
_friendly-competition-muscle-growth-animation.webp "MaxMuscle3D")
_beach-guy-2-muscle-growth.jpg)
_minneapolis-fed-president-cautious-on-rate-cuts-sees-elevated-rates-through-2024.jpg)
_widescreen-daydreaming-muscle-growth-124-mini-anim-series.jpg)
_nerd-muscle-growth-chewing-gum.jpg)
_officer-muscle-growth-video.jpg)
_football-player-muscle-growth-gym-motivation.jpg)
_brumbies-v-drua-highlights-footage-super-rugby-pacific.jpg)
_friendly-competition-muscle-growth-animation.jpg)
![[+]](/images/menu.gif){kind=small}