The Globe and Mail reports in its Wednesday edition that Shopify shares shed $27.09 to close at $146.28 on Tuesday after the company forecast slowing revenue and profit growth for the current quarter despite topping most analyst expectations in the first three months of the year. The Globe's Irene Galea writes that Shopify anticipates revenue growth will slow slightly in the second quarter with a similar drop expected for gross profit growth. Nonetheless, Shopify's estimates came in mostly above what analysts were expecting, RBC analyst Paul Treiber said Tuesday. Shopify posted revenue growth of 34 per cent and gross merchandise value growth -- the total sales made over its platform -- of 35 per cent during the quarter, the latest in a series of consecutive double-digit increases. Shopify's share price often fluctuates on earnings day, as investors assess its ability to sustain rapid revenue growth amid tech challenges. Shopify shares are down 33 per cent this year. While the company reported a net loss for the quarter, that loss was entirely attributable to its equity stakes in other companies which have been affected by similar investor concerns. Shopify is seeing an uptick in its merchants' use of its AI tools.