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Shopify profit forecast misses on higher spending, shares fall


By Shanti S Nair and Arundhati Sarkar(Reuters) - Canadian e-commerce software maker Shopify Inc's full-year adjusted operating income forecast fell short of analysts' estimates on Tuesday, overshadowing a strong quarterly profit beat and sending its shares down 4 percent.Shopify, whose products enable merchants to sell everything from infant formula to cosmetics online, forecast adjusted operating income in the range of $10 million to $20 million.Analysts on average were expecting $55 million, according to IBES data from Refinitiv.Shopify said it would set aside about $30 million for brand ...

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First Published: Tue, February 12 2019. 22:59 IST