TNW | Fintech-ecommerce
Shopify misses revenue estimates for the first time since 2022
AI spending on its Sidekick assistant cut into subscription margins, Shopify earnings show. President Harley Finkelstein expects AI shopping agents to go mainstream this holiday season.
By TNW | Fintech-ecommerce
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Credit: Roberto Cortese on Unsplash
Shopify’s revenue rose 32% to $3.74bn in the third quarter, the company said on Tuesday. Analysts had expected $3.75bn, making it Shopify’s first revenue miss since 2022, Ignacio Gonzalez reported for Bloomberg.
Shares fell as much as 17% during trading, according to Bloomberg. They closed down 8.7%, CNBC reported.
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