Shopify Falls After Saying Expenses to Rise More Than Expected
- Fourth-quarter sales and profit beat analysts’ estimates
- Company earlier this month raised prices it charges merchants
The Shopify app.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Shopify Inc. fell the most in more than a year after the Canadian e-commerce company projected higher operating costs this quarter that could crimp profit.
Operating expenses, driven by marketing outlays and employee compensation, will increase by “a low-teens percentage rate” in the first quarter, the Ottawa-based company said in a statement Tuesday. Analysts estimated expenses would rise by less than 2%, according to data compiled by Bloomberg.