GoKawiilShopify stock drops 7% as Q3 GMV and subscription metrics miss forecasts
Shopify's Q3 adjusted earnings of 49 cents per share beat LSEG estimates of 46 cents, but revenue of $3.74 billion came in slightly below the $3.75 billion expected. Gross merchandise volume of $119.15 billion and subscription gross profit of $661 million both fell short of analyst projections, sending shares down 7% on Tuesday. Subscription revenue also missed estimates, though merchant revenue and gross profit exceeded expectations.