Shopify, Thomson Reuters and Gartner slide as Q3 results disappoint
SHOP•Shares of Shopify, Thomson Reuters and Gartner fell after quarterly results. Shopify's revenue was $3.74 billion versus a $3.75 billion estimate, Thomson Reuters' revenue and adjusted EPS missed estimates, and Gartner forecast annual revenue of $6.405 billion versus expectations of $6.411 billion.
1. Shopify revenue slightly misses
Shopify shares fell 10.20% after the e-commerce platform reported third-quarter revenue of $3.74 billion, just below analysts' $3.75 billion estimate. Adjusted EPS topped estimates. TD Cowen said elevated investor expectations left no margin for error and that Shopify was being punished for largely in-line results.
2. Thomson Reuters misses estimates
Thomson Reuters shares fell 8.90%. The company reported quarterly revenue of $1.83 billion, below the $1.87 billion estimate, and adjusted EPS of 81 cents, short of analysts' 89-cent expectation.
3. Gartner lowers revenue outlook
Gartner shares fell 18.13%. The company expects annual revenue of $6.405 billion, slightly below analysts' $6.411 billion estimate, while its reported quarterly revenue and adjusted EPS exceeded estimates.
