Shopify Shares Fall on Weaker Growth Outlook

Shopify grew revenue 32% to $3.74 billion in the third quarter, with gross merchandise volume reaching $119.1 billion. Shares sold off anyway after management guided fourth-quarter revenue growth to a softer "low-thirties" percentage pace, a step down from the third quarter's rate. The beat wasn't enough to offset the deceleration $SHOP itself just forecast.