🔴 Shopify is trading 8.88% down today after revenue miss breaks four-year estimate-beating streak

Shopify is trading at CA$198.31, down 8.88%, after third-quarter revenue came in below analysts’ expectations.

• In its November 3 earnings report, revenue was $3.74 billion versus analysts’ $3.75 billion expectation, ending a four-year run of revenue beats.
• Gross merchandise volume and subscription revenue also missed estimates, raising investor concerns; the results are the clearest explanation for the sharp decline.
• Adjusted earnings of $0.49 per share beat expectations.