Why Shopify Stock Tumbled Today
Shares of Shopify (NYSE: SHOP) fell today after the company reported its fourth-quarter results. Investors pushed the company's share price down despite Shopify beating analysts' consensus earnings and revenue estimates.
The tech stock was down by 7.1% as of 11:39 a.m. EST.
Shopify's fourth-quarter earnings increased by 267% from the year-ago quarter to $1.58 per diluted share and far outpaced Wall Street's consensus earnings estimate of $1.21 per share. Additionally, the company's revenue of $978 million for the quarter easily beat analysts' consensus sales estimate of $910 million.
Source Fool.com
