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Shopify Exceeds Expectations in Q3, Forecasts Strong Revenue Growth for 2023
Business Bytes
·
1y ago
Medial
Canadian e-commerce giant Shopify has outperformed expectations in the third quarter, positioning itself for strong revenue growth in 2023, projected to be in the mid-twenties percentage range. This growth is expected to be driven by robust fourth-quarter revenue expansion, emphasizing Shopify's leadership in the e-commerce industry. The company's resilience and innovation have enabled it to thrive and become more competitive. Shopify's ability to adapt and exceed expectations reflects its continued success in the dynamic e-commerce landscape, making it a go-to platform for businesses of all sizes.
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Shopify forecasts third-quarter revenue above estimates - The Economic Times
Economic Times
·
2d ago
Medial
Shopify forecasts its third-quarter revenue to rise at a mid-to-high twenties percentage rate, exceeding analyst estimates of 21.54%, driven by strong ecommerce demand despite trade uncertainties. The company has seen robust growth across regions and maintains a resilient merchant base, particularly benefiting from AI-powered service enhancements. This optimistic outlook boosted Shopify's shares by nearly 20%, confirming strong retail demand similar to positive results reported by Amazon. Second-quarter revenue rose 31% year-over-year.
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Spotify's user growth beats expectations, posts quarterly profit
Economic Times
·
1y ago
Medial
Spotify reported strong user growth, surpassing expectations with quarterly profit and increased forecasted monthly listeners. The company's operating income for Q3 2023 was 32 million euros, supported by higher gross margin and reduced costs. The number of monthly active users rose to 574 million, while premium subscribers reached 226 million. Spotify's revenue for the quarter was 3.36 billion euros, driven by growth in music and podcast advertising. With a positive outlook, the company aims to reach 1 billion users and $100 billion in annual revenue by 2030.
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Uber forecasts upbeat second quarter on steady ride-hailing, delivery demand
Economic Times
·
3m ago
Medial
Uber forecasts robust second-quarter performance, exceeding Wall Street expectations, driven by strong demand for ride-hailing and food delivery services. The company anticipates gross bookings between $45.75 billion and $47.25 billion. Despite a 14% rise in total revenue, Uber's numbers slightly missed expectations. The firm expects second-quarter adjusted earnings between $2.02 billion and $2.12 billion. Accelerating into autonomous driving, Uber is strengthening ties with partners like Waymo, contributing to a 42% stock surge in 2023.
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Shopify profit outlook underwhelms even as holiday sales top estimates
Economic Times
·
5m ago
Medial
Shopify experienced a disappointing reaction from investors following a modest first-quarter profit outlook, despite surpassing holiday-quarter sales expectations due to strong consumer spending and new AI features. The company's stock dropped 9% in premarket trading, even though it saw a 31% increase in fourth-quarter revenue. Shopify's investments in AI tools have led to rising costs. It projects low-twenties growth in gross profit and aims for operating expenses at 41-42% of revenue.
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Spotify forecasts profit below estimates on higher taxes, shares sink - The Economic Times
Economic Times
·
9d ago
Medial
Spotify's profit forecast fell below estimates due to increased taxes on staff salaries, causing shares to drop nearly 9%. Despite strong demand for premium plans, revenue and profit guidance missed expectations, though user growth exceeded forecasts. Spotify expanded its share buyback program to $2 billion to boost investor confidence. The company faces stiff competition from rivals like Apple and Amazon, leading to increased marketing expenses. Revenue rose but fell short of estimates due to unfavorable currency movements.
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Chip tech provider Arm forecasts first-quarter revenue below estimates
Economic Times
·
3m ago
Medial
Arm Holdings' forecasts for the first quarter fall below Wall Street estimates amid global trade tensions impacting its chip architecture revenue used in smartphones and data centers. Despite beating fourth-quarter revenue expectations, Arm offered cautious forecasts due to US tariffs and semiconductor curbs affecting the outlook. Arm's shares fell over 8% after the forecast. CEO Rene Haas cited macroeconomic factors and licensing deal uncertainties as reasons for cautious guidance, despite ongoing growth in chip royalties.
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Shopify beats estimates for quarterly results on AI boost, shares soar
Economic Times
·
1y ago
Medial
Shopify exceeded expectations for its second-quarter results and predicts positive sales growth, driven by its AI-powered tools attracting more e-commerce merchants. The Canadian company, which assists small and medium businesses with creating online stores and selling products, has seen increased adoption of its artificial intelligence features. Shopify reported a 21% increase in Q2 revenue to $2.05 billion, surpassing analysts' estimates of $2.01 billion. Gross merchandise volume also rose by 22% to $67.2 billion. The company expects third-quarter revenue to grow at a low-to-mid-twenties percentage rate year-over-year.
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EBay forecasts quarterly revenue below expectations on weak demand
Economic Times
·
5m ago
Medial
eBay reported weaker-than-expected revenue forecasts for the first quarter due to economic uncertainty and reduced consumer spending on non-essential items, leading to a 9% dip in its shares. Facing challenges like high inflation, competition from Amazon and Alibaba, and U.S. tariff uncertainties, the company anticipates pressure on its take rate. Despite declining advertising revenue, eBay's luxury business and collectibles remain strong performers. Revenue projections are slightly below analysts' expectations.
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Netflix's net income leaps to $3.1 billion - The Economic Times
Economic Times
·
21d ago
Medial
Netflix reported a strong second quarter with $11.1 billion in revenue and $3.1 billion in net income, exceeding Wall Street expectations. Viewers streamed over 95 billion hours in the first half of 2025, and the company earned 120 Emmy nominations. Netflix plans to reboot "Star Search" and continue expanding its live programming. With increased viewership and revenue forecasts, the streaming giant remains a major player in the industry.
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What the IMF forecasts say about India’s economic growth
Money Control
·
1y ago
Medial
The Indian economy is projected to experience robust growth, but it will be different from the strong growth seen during the 2000s. The International Monetary Fund (IMF) forecasts that GDP growth will be less than 7 percent in the years until 2029, following a strong 7.8 percent growth in 2023-24. This slower growth is attributed to the sluggishness in external demand and a comparative tepid growth in investment.
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