Shopify stock slips on light guidance, company notes tariff 'uncertainty'

The logo of Shopify is seen outside its headquarters in Ottawa, Ontario, Canada, September 28, 2018. Shares of Shopify dipped more than 5% in early trading Thursday after the company posted mixed first-quarter results and issued soft guidance for the current period. Here's how the company did: Earnings per share: 39 cents adjusted vs. 26 cents expected by LSEG 39 cents adjusted vs. 26 cents expected by LSEG Revenue: $2.36 billion vs. $2.33 billion expected by LSEG For the second quarter, Shopify said it expects gross profit to grow at a high-teens percentage rate, while analysts had forecast a rate of 20.1%, according to StreetAccount. The company expects revenue to expand at a mid-20s percentage rate compared with a year earlier. Wall Street had forecast roughly 22% growth. Shopify sells software for merchants who run online businesses as well as services such as advertising and payment processing tools. Many of Shopify's merchants are small- to medium-sized businesses, giving i ... Read full article.