The Globe and Mail reports in its Friday edition that Shopify posted double-digit revenue growth for its first fiscal quarter, but the stock slumped during morning trading as the company's outlook fell short of analysts' expectations. The Globe's Pippa Norman writes that Shopify president Harley Finkelstein said in an earnings call Thursday that tariffs have had little effect on the company so far. He cited the diversity of the company's merchant base and consumers as one reason for Shopify's strong quarter amid market volatility. The fact that more than half of U.S. customers buying from Shopify merchants have incomes exceeding $100,000 also helps (all figures U.S.). Shopify, which charges merchants subscription and transaction fees to use its platform, generated $2.4-billion in revenue in the first quarter ended March 31, beating analysts' estimates of $2.3-billion. That was up 27 per cent from $1.9-billion in the same quarter last year. Shopify posted a net loss of $682-million, with a large chunk of that attributable to its equity holdings in other companies. Excluding the impact of those investments, net income was $226-million, up 57 per cent. Revenue growth is forecast at around a mid-20s-percentage rate.