Shopify

February 15, 2023 – Shopify Inc. (NYSE: SHOP), a provider of essential internet infrastructure for commerce, announced today financial results for the quarter and year ended December 31, 2022. Fourth-quarter revenue was $1.73 billion, versus analysts’ expectations of $1.65 billion. GMV for the fourth quarter was $61 billion, compared with analysts’ expectations of $59.21 billion. The fourth-quarter MRR was $109.5 million, versus analysts’ expectations of $111.2 million. Fourth-Quarter Financial Highlights GMV increased 13% to $61.0 billion。 Total revenue increased 26% to $1.7 billion compared to the prior year。 Merchant Solutions revenue increased 30% to $1.3 billion compared to the prior year。 Monthly Recurring Revenue as of December 31, 2022 increased 7% to $109.5 million compared to the prior year. Gross profit dollars grew 15% to $798.5 million, compared to the prior year. Gross margin for the quarter was 46.0% compared to 50.2% in Q4 2021, driven primarily by contributions from lower margin Shopify […]

Canadian e-commerce Shopify (NYSE:SHOP) had revenue of $1.73 billion in the fourth quarter of 2022, versus analysts’ expectations of $1.65 billion. GMV for the fourth quarter was $61 billion, versus analysts’ expectations of $59.21 billion. The fourth-quarter MRR was $109.5 million, versus analysts’ expectations of $111.2 million.

Shopify Inc. (NYSE:SHOP) Price Target Raised to $47.00/Share From $38.00 by TD Securities