Latest news with #Finkelstein
Sky News AU
22-05-2025
- Politics
- Sky News AU
Coaltion split to give parties a chance to speak to voters ‘authentically'
Political Strategist and adviser Yaron Finkelstein has said the Nationals' split from the Coalition is an opportunity for both parties to speak to voters in an "authentic way". "There'll be Liberals who will want to be talking about different things that perhaps they couldn't when they were bound with the National Party and vice versa," Mr Finkelstein said. "It doesn't mean they'll be radically different in those policy areas but give them a chance to breathe."
Yahoo
08-05-2025
- Business
- Yahoo
‘No meaningful impact': Shopify downplays effects of tariffs as first-quarter revenue jumps
Shopify Inc. president Harley Finkelstein minimized tariff concerns in a first-quarter 2025 earnings call on Thursday, noting that the company has not seen 'any meaningful impact' on gross merchandise volume (GMV) — a company metric that tracks the sales taking place on its platform — in the face of U.S. president Donald Trump's trade war and cancellation of the de minimis exemption for lower-value goods. 'We're of course monitoring for slowdowns, but our data through April shows little evidence of that,' Finkelstein said. The U.S. president's axing of the de minimis exemption, which allowed goods valued at US$800 and under to enter the U.S. duty-free, came into effect last Friday but the move is not expected to 'have a meaningful impact' in the near-term, Shopify CFO Jeff Hoffmeister, said, noting only one per cent of its business would be affected. When asked about how merchants would be exposed to U.S. tariffs, Finkelstein said that the company's merchant base was geographically diverse but that it depended on where they made their products. 'Some are impacted more than others,' he acknowledged. Shopify has also introduced new tools to help merchants navigate the new trade landscape. The platform has rolled out additional features for U.S. merchants to collect and remit duties, such as automatic duties calculation at checkout alongside an artificial intelligence-powered tariff guide that calculates duties based on the product's country of origin and description. The toolkit will help merchants achieve compliance 'within hours' of new duties being announced, according to Finkelstein. For buyers, Shopify earlier this year launched a tool that allows shoppers to filter products by country. Despite Shopify's upbeat assessment, its GMV fell slightly short of analyst expectations, growing nearly 23 per cent to US$74.75 billion. Revenue jumped by 27 per cent to US$2.36 billion from US$1.86 billion while its loss deepened to US$682 million from US$273 million from a year ago. Shopify cash flow guidance disappoints to start 2025 Shopify developers lose annual revenue share break • Email: novid@
Time of India
08-05-2025
- Business
- Time of India
Shopify beats earnings forecast but warns of slower growth amid Trump tariffs and trade policy shifts
Shopify outpaces Q1 earnings but tariff uncertainty clouds forecast Live Events Trump's tariffs cast a shadow over e-commerce outlook Shopify bets on resilient consumer base and local commerce tools (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Canadian e-commerce giant Shopify reported better-than-expected earnings in its first-quarter results, but issued a cautious growth outlook for Q2, triggering a 5 per cent drop in its share price during early trading on Thursday, May 8. The company's results and guidance come as US-China trade tensions resurface under renewed Trump-era tariffs, shaking investor confidence across the e-commerce how Shopify performed in Q1:Revenue: $2.36 billion vs. $2.33 billion expectedAdjusted EPS: 39 cents vs. 26 cents expectedGross Merchandise Volume (GMV): $74.75 billion, just shy of $74.8 billion estimatesAlso read: Uber reports strong Q1 despite revenue miss, forecasts resilient demand with robust gross bookings outlook While Shopify surpassed revenue and earnings forecasts, it predicted gross profit to grow at a high-teens percentage rate in Q2 — slightly below analyst expectations of 20.1 per cent. The company also projected mid-twenties revenue growth for the next quarter, compared to Wall Street's 22 per cent which powers online storefronts and offers services like advertising and payment processing tools, faces indirect exposure to geopolitical policies. President Donald Trump's sweeping tariffs — now totaling 145 per cent on Chinese imports — have closed a trade loophole that previously exempted sub-$800 shipments from China from US read: Google stock falls as Apple signals interest in AI search rivals like Perplexity Despite this, Shopify's leadership appears unshaken. President Harley Finkelstein told investors the de minimis exemption closure would not have a 'meaningful impact' on business, noting that only around 1 per cent of the company's GMV involves imports previously covered by the exemption.'We haven't seen broad-based price increases among sellers,' Finkelstein said. 'We believe this helps insulate our merchants from some of the potential swings in pricing or other market factors, as higher-income consumers tend to be less price sensitive.'Finkelstein emphasized that over 50 per cent of Shopify's US buyers have household incomes above $100,000, giving the company some cushion against cost-related response to rising e-commerce tariffs and policy shifts, Shopify has been rolling out features to strengthen its merchant ecosystem. Earlier this year, the company introduced a 'Buy Local' tool enabling customers to filter and shop from businesses within their home country. This strategic move could help Shopify reduce reliance on global supply chains and mitigate tariff read: BCE slashes dividend to fund $5-billion Ziply deal and cut debt amid economic uncertainty While Shopify's subscription solutions revenue came in at $620 million — slightly under the $621.5 million projected — the broader 27 per cent revenue growth shows the platform's continued appeal amid market e-commerce companies are also reacting to the trade shakeup. Amazon recently cited 'tariff and trade policies' as a concern in its softer Q2 guidance, while Etsy said it remains 'nimble' in response to the uncertainty. Etsy's CFO Lanny Baker noted that their direct tariff exposure is low, echoing similar sentiments to Shopify's the Canada-US tech corridor adapts to unpredictable global trade policies, Shopify is leaning on its core strengths: scalable software, affluent customers, and a flexible merchant network. Whether that will be enough to power continued momentum remains to be seen.
Economic Times
08-05-2025
- Business
- Economic Times
Shopify beats earnings forecast but warns of slower growth amid Trump tariffs and trade policy shifts
Shopify topped first-quarter earnings and revenue expectations but issued cautious guidance, citing uncertainty around Trump-era tariffs and changing trade policy. Despite macroeconomic pressures, the Canadian e-commerce firm remains confident, pointing to its high-income customer base and minimal exposure to Chinese imports. Shares dipped 5 per cent following the announcement Shopify outpaces Q1 earnings but tariff uncertainty clouds forecast Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Trump's tariffs cast a shadow over e-commerce outlook Tired of too many ads? Remove Ads Shopify bets on resilient consumer base and local commerce tools Canadian e-commerce giant Shopify reported better-than-expected earnings in its first-quarter results, but issued a cautious growth outlook for Q2, triggering a 5 per cent drop in its share price during early trading on Thursday, May 8. The company's results and guidance come as US-China trade tensions resurface under renewed Trump-era tariffs, shaking investor confidence across the e-commerce how Shopify performed in Q1:Revenue: $2.36 billion vs. $2.33 billion expectedAdjusted EPS: 39 cents vs. 26 cents expectedGross Merchandise Volume (GMV): $74.75 billion, just shy of $74.8 billion estimatesAlso read: Uber reports strong Q1 despite revenue miss, forecasts resilient demand with robust gross bookings outlook While Shopify surpassed revenue and earnings forecasts, it predicted gross profit to grow at a high-teens percentage rate in Q2 — slightly below analyst expectations of 20.1 per cent. The company also projected mid-twenties revenue growth for the next quarter, compared to Wall Street's 22 per cent which powers online storefronts and offers services like advertising and payment processing tools, faces indirect exposure to geopolitical policies. President Donald Trump's sweeping tariffs — now totaling 145 per cent on Chinese imports — have closed a trade loophole that previously exempted sub-$800 shipments from China from US read: Google stock falls as Apple signals interest in AI search rivals like Perplexity Despite this, Shopify's leadership appears unshaken. President Harley Finkelstein told investors the de minimis exemption closure would not have a 'meaningful impact' on business, noting that only around 1 per cent of the company's GMV involves imports previously covered by the exemption.'We haven't seen broad-based price increases among sellers,' Finkelstein said. 'We believe this helps insulate our merchants from some of the potential swings in pricing or other market factors, as higher-income consumers tend to be less price sensitive.'Finkelstein emphasized that over 50 per cent of Shopify's US buyers have household incomes above $100,000, giving the company some cushion against cost-related response to rising e-commerce tariffs and policy shifts, Shopify has been rolling out features to strengthen its merchant ecosystem. Earlier this year, the company introduced a 'Buy Local' tool enabling customers to filter and shop from businesses within their home country. This strategic move could help Shopify reduce reliance on global supply chains and mitigate tariff read: BCE slashes dividend to fund $5-billion Ziply deal and cut debt amid economic uncertainty While Shopify's subscription solutions revenue came in at $620 million — slightly under the $621.5 million projected — the broader 27 per cent revenue growth shows the platform's continued appeal amid market e-commerce companies are also reacting to the trade shakeup. Amazon recently cited 'tariff and trade policies' as a concern in its softer Q2 guidance, while Etsy said it remains 'nimble' in response to the uncertainty. Etsy's CFO Lanny Baker noted that their direct tariff exposure is low, echoing similar sentiments to Shopify's the Canada-US tech corridor adapts to unpredictable global trade policies, Shopify is leaning on its core strengths: scalable software, affluent customers, and a flexible merchant network. Whether that will be enough to power continued momentum remains to be seen.
Business Insider
08-05-2025
- Business
- Business Insider
Shopify builds new merchant tools for navigating tariff uncertainty
Shopify has been busy building tools to help its merchants through tariff uncertainty. Executives addressed tariffs directly during the company's first-quarter earnings call Thursday, saying that it had launched a series of new solutions for calculating and collecting duties. "We've shipped a lot, and we focused on areas that we can have a more immediate impact: cross-border trade, making it easier to buy local, duties calculations, and shipping," President Harley Finkelstein said during the call. That includes a website it launched this week that provides AI-driven guidance on US tariff rates based on a product's description and its country of origin. The website cautions users to take it as guidance and to double-check rates with customs officials. In February, Shopify made its duties-collection tool, previously exclusive to users of Advanced Shopify or Shopify Plus, available to all merchants. Merchants using the tool can display and collect duties at the time of checkout. It also lowered the transaction fee for that tool to 0.5%, down from 0.85% for Shopify Payments users and 1.5% for merchants using other payment providers. Finkelstein said the number of merchants using the duties-collection tool doubled between January and the end of March. Shopify also added a filter in the Shop app that allows shoppers to view products made in a particular country and to buy locally. On the shipping front, it launched the ability for merchants to purchase prepaid shipping labels and send products to customers using delivery duty-paid shipping, which essentially means that merchants assume the costs of tariffs and taxes for customers. It also started working with more third-party logistics providers on the Shopify Fulfillment Network app and added features to its managed markets product, which, through a partnership, allows merchants to designate Global-e as the merchant of record rather than the seller itself. "Our obsession with unlocking every opportunity and filling every important gap in the system, to give our merchants the best chance of success, is one of our superpowers," Finkelstein said. "We rolled out the Shop app filter in less than a week, and the duties calculation at checkout update over a weekend. Literally, the weekend after the tariff changes were announced, the team got to work, and by Sunday evening, we were testing it for production," he added. Shopify CFO Jeff Hoffmeister said that cross-border commerce accounted for 15% of the company's gross merchandise volume in the quarter, similar to previous quarters. About half of that cross-border commerce involved trade into or out of the US. He added that only about 1% of Shopify's overall GMV was for items from China that would qualify for the de minimis exemption. "The recent expiration of the de minimis exemption for goods from China is not expected to have a meaningful impact on Shopify in the near term," he said. "That said, this expired less than a week ago, and we will continue to monitor its impact on our business." Shopify reported 27% revenue growth and 23% GMV growth for the quarter. "As the platform that powers global commerce, we're of course monitoring for potential slowdowns, but our data through April shows little evidence of that," Finkelstein said.
