On November 3, Shopify fell 10.49% in Regular Trading, trading at $140.23/share, with turnover of $495 million.

The move followed a mixed third-quarter report: adjusted EPS of $0.49 beat consensus estimates around $0.46 to $0.47, but revenue of $3.74 billion missed expectations near $3.77 billion, while gross margin narrowed and subscription revenue was reported below expectations.

Additional disclosed figures showed gross profit of $1.781 billion, up 28% year over year, free cash flow of $816 million, up about 61%, and fourth-quarter guidance calling for revenue growth in the low-thirties percentage range and gross profit growth near 30%. Despite stronger profit and cash flow, the revenue shortfall and margin compression appear to be the main drivers of the stock's decline.

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