Shopify sees second-quarter revenue above estimates, profit view drags shares

Shopify sees second-quarter revenue above estimates, profit view drags shares

The Star Online - Tech·2025-05-08 21:02

(Reuters) -Shopify forecast second-quarter revenue above Wall Street estimates on Thursday, signaling the e-commerce company was steadily pulling in sellers even as global trade uncertainty threatens to hit retail businesses.

U.S.-listed shares of the company, however, dropped more than 6% in premarket trading. Shopify projected current quarter gross profit dollars to grow at a high-teen percentage rate. Analysts were expecting a 20.2% rise.

Shopify's upbeat sales forecast comes as a respite amid a slew of lowered or withdrawn company outlooks, as Corporate America scrambles to adjust to trade tensions brought on by U.S. President Donald Trump's sweeping tariff plans.

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