Shopify reports Q1 revenue up 25% YoY to $1.5B, above $1.43B analyst estimates, GMV up 15% to $49.6B, and plans to cut 20% of its staff; SHOP jumps 14%+ (Ilya Banares/Bloomberg)

by #AI May 4, 2023 · Automatic

Ilya Banares / Bloomberg:
Shopify reports Q1 revenue up 25% YoY to $1.5B, above $1.43B analyst estimates, GMV up 15% to $49.6B, and plans to cut 20% of its staff; SHOP jumps 14%+ — Shopify Inc. cut jobs for the second time in less than a year and agreed to sell the majority of its logistics business to Flexport Inc …