Shopify forecasts slowing revenue growth for the current quarter despite price hikes and new product launches
on Wednesday forecast slowing revenue growth for the current quarter despite price hikes and new product launches, signalling that macroeconomic challenges were weighing on its merchants’ online businesses.
The technology company, which offers tools and services for businesses to set up their online stores, said it expects revenue growth in the “high-teen” percentages, while analysts had forecast a rise of nearly 20%, according to Refinitiv data. The e-commerce company, which traditionally catered to small businesses, has been focusing on adding big brands to its clients list as they look to sell directly to consumers and use some of Shopify’s website creation and payment tools to set up their stores.
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