SHOP - Shopify Q4 revenue tops Street estimates

2024-02-13 07:21:36 ET

Shopify Inc (NYSE: SHOP) is trading down in premarket on Tuesday even though it reported market-beating revenue for its fourth financial quarter.

Investors are cheering also because the management issued upbeat guidance for the future. Shopify now forecasts its revenue to grow by more than 20% at least in Q1.

Analysts, in comparison, were at billion. Harley Finkelstein – the president of Shopify Inc said in a press release today:

As we look ahead to 2024, our focus remains on driving innovation in an ever-evolving commerce landscape, delivering products that will propel our merchants’ businesses forward.

The eCommerce giant recently partnered with Amazon to introduce “Buy with Prime” option for its users. is currently up more than 80% versus its low in late October.

Earned million versus the year-ago million

Per-share earnings also climbed from to 51 cents

Adjusted EPS printed at 34 cents as per the press release

Revenue jumped 24% year-over-year to $2.1 billion

Consensus was 30 cents a share on $2.08 billion revenue

Operating income and FCF margins sat at 13% and 21%

saw a better-than-expected 23% annualised growth in gross merchandise volume to $75.1 billion in Q4, as per its earnings report. According to Jeff Hoffmeister – its chief of finance:

For 2024, we look to build on the momentum that we achieved in 2023 and continue to deliver a strong combination of both top-line growth and profitability.

This is a developing story. Check back in a few minutes for more updates!

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