Shopify Shares Tumble as Q2 Growth Forecast Disappoints

Despite surpassing Q1 expectations, Shopify's stock plunges due to a weaker-than-anticipated revenue outlook for Q2 2024.

Shopify's stock hit a six-month low, declining nearly 20% after projecting high-teens revenue growth for the second quarter.
Investors reacted negatively to the forecast, overshadowing a robust first-quarter performance with revenues of $1.86 billion.
The sale of Shopify's logistics business last year is cited as a significant factor contributing to the expected slowdown.
Operating expenses are set to increase slightly, contrasting with a decrease in the previous quarter.
Shopify's focus on integrating AI tools and maintaining operational discipline remains central to its strategy.