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Shopify shares plunge 18% on weak guidance
  + stars: | 2024-05-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com   time to read: +1 min
The corporate logo of e-commerce company Shopify hangs at the building that contains the offices of Shopify Commerce Germany GmbH on August 08, 2022 in Berlin, Germany. Shopify reported first-quarter earnings and sales on Wednesday that were ahead of Wall Street expectations, but it gave a downbeat forecast for the current quarter. Shopify said it expects second-quarter revenue to grow at a high-teens percentage rate year-over-year, a slowdown from the previous period. The company has posted year-over-year revenue growth in the low-to-mid twenties for the past six quarters. Second-quarter revenue would grow in the "low-to-mid-twenties" year-over-year when adjusting for the divestiture of the logistics business, Shopify said.
Persons: Shopify Organizations: Shopify Commerce, Shopify Commerce Germany GmbH Locations: Shopify Commerce Germany, Berlin, Germany
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