Shopify shares fell 9% in early trading on Tuesday after the company reported results below analyst expectations. Adjusted earnings came in at 49 cents per share, above LSEG’s 46-cent estimate, while quarterly revenue reached $3.74 billion, narrowly missing the expected $3.75 billion. Shopify forecasts annual revenue growth in the low 30% range for the fourth quarter, compared with an estimate of 32.1%. Gross merchandise volume of $119.15 billion and subscription gross profit of $661 million also fell short of forecasts, while merchant gross profit exceeded estimates.
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