_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 ftnet stock forecast cnn 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
Related Videos
_consumer-outlook-plunges-amid-fears-of-more-price-hikes-ahead.webp "Consumer Outlook , Plunges Amid Fears of , More Price Hikes Ahead.<br/>CNN reports that sentiment about the economy among <br/>consumers in the United States has plummeted <br/>to the lowest level in the past six months.<br/>According to the latest consumer survey by the <br/>University of Michigan, consumers are also bracing <br/>for more price increases in the year ahead. .<br/>The consumer expectations gauge, <br/>which is closely monitored by the White House, <br/>dropped 13%, representing the most significant <br/>single month decline since mid-2021.<br/>The latest news is still better than <br/>last May when inflation was at 4% <br/>compared to the current 3.5% reading.<br/>However, CNN points out that despite inflation <br/>being lower than the same time last year, the numbers <br/>have been moving in the wrong direction.<br/>The trajectory has shifted <br/>economist expectations for <br/>the Federal Reserve to cut rates. .<br/>The latest Fed report saw expectations <br/>for year-ahead inflation increase <br/>to 3.5% from the 3.2% forecast in April. .<br/>At the same time, long-run <br/>expectations for inflation also <br/>increased to 3.1% from April's 3.0%. .<br/>According to Chicago Federal Reserve <br/>President Austan Goolsbee, the latest data , \")
_real-world-math-cnn-stock-forecasts.webp "Shawn Lum")
_convolutional-neural-network-multivariate-time-series-stock-forecast.webp "Tina Pai")
_stock-price-prediction-and-forecasting-using-stacked-lstm-deep-learning.webp "Krish Naik")
⏲ 36 minutes 33 seconds 👁 240K
_the-bond-market-has-a-massive-problem-124-nick-givanovic.webp "Blockworks Macro")
_goldman-sachs-bullish-on-nvidia-stock-forecasts-22-surge.webp "Goldman Sachs predicts Nvidia stock will surge another 22% as it believes it is still undervalued compared to its peers. Despite nearly doubling this year, Nvidia's valuation is still relatively cheap, given its fast growth rate. Goldman was encouraged by comments from major tech companies that they will increase spending on AI infrastructure in 2025 following elevated investment in 2024. Goldman raised its price target for Nvidia stock to $1100, representing 22% upside from current levels.")
_forbes-editor-predicts-trump-stock-prices-could-fall-another-90.webp "CNN")
_consumer-outlook-plunges-amid-fears-of-more-price-hikes-ahead.jpg)
_real-world-math-cnn-stock-forecasts.jpg)
_convolutional-neural-network-multivariate-time-series-stock-forecast.jpg)
_stock-price-prediction-and-forecasting-using-stacked-lstm-deep-learning.jpg)
_the-bond-market-has-a-massive-problem-124-nick-givanovic.jpg)
_goldman-sachs-bullish-on-nvidia-stock-forecasts-22-surge.jpg)
_forbes-editor-predicts-trump-stock-prices-could-fall-another-90.jpg)
![[+]](/images/menu.gif){kind=small}