Ebene News – CA – Shopify drops after warning revenue growth will slow in 2021 – BNN Bloomberg

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– Canadian e-commerce company Shopify Inc says it will take advantage of “unprecedented opportunities” in 2021 to accelerate innovation and expand into new markets, but warned its growth rate would slow

Income will increase rapidly this year, but not as quickly as in 2020, where it rose 86% to US $ 2 93 billion, the company said on Wednesday It did not give specific guidance on current year revenue L arrival of vaccines could allow some consumer spending to flow back to physical retailers, Ottawa-based Shopify said

Fourth-quarter revenue was US $ 978 million, pushing former analysts up forecast of $ 910 million, propelled by a boom in online shopping during the global pandemic The company said it plans to reinvest gross profits back into our business as aggressively as possibleâ € ”

Shopify invests in product marketing and sales teams in countries where it is already well established, President Harley Finkelstein said on a conference call, but intends to take a “meticulous and very strategic ” ??? to international expansion

– Some other countries that we have on our radar, we don’t think this is the right time to really go any further This will happen in the future, â ???? he said

The gross value of merchandise – the broadest measure of product sales through the Shopify platform – was $ 411 billion in the fourth quarter, up 99% from same quarter a year earlier, thanks to growing demand for online shopping during the global pandemic GMV for the full year was US $ 1196 billion

– I think you have some profit taking and I think investor expectations were very, very high, – Jefferies analyst Samad Samana said of the stock’s decline About earnings , Samana said: “ We see it as the cornerstone of an incredible 2020, a year in which they have seen growth that no one could have anticipatedat ????

Shopify will spend money to improve its software platform and expand its payment, shipping, capital and Shopify Plus products, the company said in an investor presentation

Retailers from Under Armor Inc to Parent Coach Tapestry Inc See Continued Strength in Online Sales As Pandemic Persists That said, physical retailers are still hoping for a recovery in 2021 as vaccination efforts gain momentum

Some analysts have questioned whether Shopify’s growth trajectory is sustainable.However, the big names on Wall Street continue to pump billions of dollars into online retailers

Since its inception in 2004, Shopify has grown from being a core software business, helping businesses connect quickly, to providing a range of business services including payments, loans and shipping.

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Shopify, E-commerce, NYSE: SHOP, Income, Income, Stock

Ebene News – CA – Shopify drops after warning that revenue growth will slow in 2021 – BNN Bloomberg

Source: https://www.bnnbloomberg.ca/shopify-beats-estimates-sees-revenue-growth-slowing-in-2021-1.1564664