May 8 (Reuters) - Shopify ( SHOP ) forecast
second-quarter revenue above Wall Street estimates on Thursday,
signaling the e-commerce company was steadily pulling in sellers
even as global trade uncertainty threatens to hit retail
businesses.
U.S.-listed shares of the company, however, dropped more
than 6% in premarket trading. Shopify ( SHOP ) projected current quarter
gross profit dollars to grow at a high-teen percentage rate.
Analysts were expecting a 20.2% rise.
Shopify's ( SHOP ) upbeat sales forecast comes as a respite amid a
slew of lowered or withdrawn company outlooks, as Corporate
America scrambles to adjust to trade tensions brought on by U.S.
President Donald Trump's sweeping tariff plans.
E-commerce industry leader Amazon ( AMZN ) last week
forecast June quarter sales largely above estimates, and noted
it had not seen any slowdown in demand or notable changes to
consumer behavior yet.
Ontario, Canada-based Shopify ( SHOP ) said it expects revenue to
grow in the mid-twenties percentage range in the current
quarter, while analysts on average estimate growth of 22.4%,
according to data compiled by LSEG.
Shopify ( SHOP ) reported revenue of $2.36 billion for the first
quarter ended March 31, compared with analysts' average estimate
of $2.33 billion.