Shopify Shares Fall as Q3 Revenue and GMV Miss Estimates

Shopify shares fell in Tuesday trading after the e-commerce company posted third-quarter revenue and gross merchandise volume below estimates, despite beating expectations for non-GAAP diluted earnings per share. Revenue totaled $3.742 billion, up 32% from a year earlier, but below the $3.75 billion estimate. Gross merchandise volume (GMV) reached $119.145 billion, a 29% annual increase, compared with a $120.03 billion estimate. GMV measures the value of orders facilitated through Shopify's platform. Non-GAAP diluted earnings per share came to $0.49, topping the $0.46 estimate.

Source: TokenPost