It has been about a month since the last earnings report for Shopify (NYSE:SHOP). Shares have lost about 2.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Shopify due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Shopify Q4 Earnings Beat Estimates, Revenues Rise Y/Y
Shopify reported fourth-quarter 2023 adjusted earnings of 34 cents per share, comfortably beating the Zacks Consensus Estimate by 9.68%. The company reported earnings of 7 cents per share in the year-ago quarter.
Total revenues jumped 23.6% year over year to $2.14 billion, which beat the Zacks Consensus Estimate by 3.66%.
Quarter in Detail
Subscription Solutions revenues increased 31.3% year over year to $525 million primarily due to more merchants joining the platform, as well as pricing changes for existing merchants on its Standard subscription plans.
Merchant Solutions revenues improved 21.3% year over year to $1.62 billion, driven by robust Gross ...
SHOP) Down 2.5% Since Last Earnings Report: Can It Rebound?>Full story available on Benzinga.com