Shopify Reports Strong Q4 Earnings but Issues Cautious 2024 Guidance
Despite exceeding fourth-quarter expectations, Shopify's stock falls as investors react to conservative revenue and operating income forecasts for 2024.
- Shopify's fourth-quarter earnings per share of 34 cents and revenue of $2.14 billion surpassed analyst expectations.
- Gross merchandise volume in Q4 rose 23% to $75.1 billion, indicating robust sales on the platform.
- The company's guidance for 2024 suggests revenue growth at a low-twenties percentage rate, adjusted for the sale of its logistics business.
- Analysts express concerns over Shopify's operating income forecast, which falls well below consensus estimates.
- Shopify's stock experienced a decline following the announcement, despite the strong Q4 performance.
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