The drop comes a day after the company reported fourth-quarter earnings that surpassed analyst expectations From alicjawithaj
) plunged as much as nearly 15 per cent in early trading on Thursday, after the company issued a weaker-than-expected outlook amid rising costs and a challenging macroeconomic environment.
The drop comes a day after Shopify reported fourth-quarter earnings that surpassed analyst expectations. But the weaker-than-expected guidance for the first quarter of 2023 weighed on the stock Thursday. The company says it expects total sales growth to be in the high-teen percentages on a year-over-year basis, and its gross margin will be slightly higher than in the 46 per cent reached in the fourth quarter of 2022.
"We went through an extensive benchmarking exercise to help us make sure that within Shopify the right people are getting paid the right amount," Hoffmeister said, adding that the process resulted in higher compensation expenses starting in September 2022, primarily in research and development.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 things to know for Thursday, February 16, 2023John Tory finally hands in his resignation as mayor of Toronto, embattled RCMP Commissioner Brenda Lucki is retiring, and a Canadian man who lost his mother and sister in the Turkiye earthquake struggles to help his surviving siblings. Here's what you need to know to start your day.
Read more »
PGA Championship Betting Odds 2023: Rahm, Rory Favoured at Oak HillFollowing the Masters , major championship season continues at Oak Hill Country Club for the 2023 PGA Championship on May 18\u002D21.
Read more »
Waterloo city council approves 2023 budget, property taxes to climb 5.45% | Globalnews.caWaterloo city council approved its budget for this year, which will see property tax bills increasing by a total of 5.45 per cent in 2023.
Read more »
Masters Betting Odds 2023: Can Rory Get Over Augusta Hump?The turn of the calendar means a new PGA Tour season is well underway. More importantly, it means that the season’s first major championship — the Masters at…
Read more »
U.S. stock rally faces uphill climb after mixed inflation dataA rally in the early weeks of 2023 may struggle to find its next leg
Read more »