Shopify Stock Falls After Earnings. Why Good Wasn’t Good Enough.

Shopify stock was slumping Tueday after third-quarter earnings failed to satisfy Wall Street as investors looked beyond better-than-expected revenue and gross merchandise volume. Revenue surged 32% to $2.84 billion in the quarter, topping the consensus call for $2.76 billion among analysts polled by FactSet Gross merchandise volume from merchant customers rose 32% to $92 billion, topping the 28% gain to $89.12 billion Wall Street had projected. Shopify stock declined 3.5% following the report Tuesday morning.