Shopify Inc
SHOP
$158.21 -1.78%
Exchange: NASDAQ | Sector: Technology | Industry: Software Application
Q4 2023
Published: Feb 13, 2024

Earnings Highlights

  • Revenue of $2.14B up 23.6% year-over-year
  • EPS of $0.52 increased by 208.2% from previous year
  • Gross margin of 49.5%
  • Net income of 657.00M
  • "Harley Finkelstein: 'We have 35% more merchants from outside North America launch and grow their businesses on Shopify.'" - Harley Finkelstein
SHOP
Shopify Inc

Executive Summary

Shopify Inc (SHOP) reported a record-breaking fourth quarter in 2023, achieving $2.1 billion in revenue, representing a 24% year-over-year increase. This quarter marks the first time in Shopify's history that the company surpassed $2 billion in revenue in a single quarter. The robust performance was driven by the significant growth of its Merchant Solutions segment, which accounted for $1.6 billion in revenue, primarily driven by increased GMV (Gross Merchandise Volume) and higher penetration of Shopify Payments. With a strong focus on innovation, Shopify has launched several AI-powered tools and enhanced its platform to provide better services for merchant partners. The company's ability to attract more merchants globally, particularly in the EMEA region where it experienced 40% growth year-over-year, highlights its expanding market position and operational agility.

Key Performance Indicators

Revenue
Increasing
2.14B
QoQ: 25.09% | YoY: 23.58%
Gross Profit
Increasing
1.06B
49.50% margin
QoQ: 17.87% | YoY: 33.00%
Operating Income
Increasing
204.50M
QoQ: 67.62% | YoY: 208.34%
Net Income
Increasing
657.00M
QoQ: -8.50% | YoY: 205.18%
EPS
Increasing
0.53
QoQ: -3.64% | YoY: 208.16%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 2,812.00 0.99 +31.2% View
Q3 2024 2,162.00 0.64 +26.1% View
Q2 2024 2,044.58 0.13 +20.7% View
Q1 2024 1,861.00 -0.21 +23.4% View
Q4 2023 2,144.00 0.52 +23.6% View