Shopify Reports $273M Loss, Shares Drop

By  
Artur Stańczuk
May 12, 2024
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Summary:

On May 8, 2024, Shopify announced a surprising $273M loss for Q1, despite a 23% rise in revenue to $1.9B. After selling its logistics unit to Flexport in 2023, it now expects a decrease in margins. Shares fell 20%, wiping $20B off its market value.

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