Shopify misses revenue estimates for the first time since 2022

Shopify's third-quarter revenue rose 32% year-over-year to $3.74 billion, but fell short of analyst forecasts of $3.75 billion. This marks the first time the company missed revenue estimates since 2022. The earnings miss triggered a significant market reaction, with shares initially dropping as much as 17% before closing down 8.7%.

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