May 8 (Reuters) - Canadian e-commerce platform Shopify ( SHOP )

forecast its slowest quarterly revenue growth in two

years against the backdrop of an uncertain economy and tepid

consumer spending, sending its U.S. shares slumping 19% in

premarket trading.

The company said on Wednesday it expects second-quarter

revenue to grow at a high-teens percentage rate year on year.

That compares with the average growth of about 26% over the

last few quarters.

Analysts estimated current-quarter revenue to grow 19.35%,

according to LSEG data.

While e-commerce growth has been normalizing, consumers have

been looking to cut down on costs, putting Shopify ( SHOP ) at a

disadvantage despite price hikes and new AI-based tools.

Adding to the company's pressure, its core clientele if

small businesses and medium-sized businesses (SMBs) which have

been more susceptible to the hit from higher inflation.