Shopify stock trends lower following Q4 earnings beat

Yahoo Finance’s Ines Ferre looks at Shopify's latest earnings results.

Video Transcript

DAVE BRIGGS: Shopify out with earnings now. Ines Ferre has the numbers. As you can see, shares down a little over 3% in extended hours. Ines, what are we seeing?

INES FERRE: Yeah, Dave, well, it was a beat on the top and the bottom line with the e-commerce tech company's revenue coming in at $1.73 billion. The Street was expecting $1.65 billion. Adjusted earnings per share came in at $0.07. The Street was expecting a loss per share of $0.025.

Fourth quarter gross merchandise volume, that came in at $61.0 billion versus $59.21 billion that the Street had been expecting. Some commentary from Shopify's President Harley Finkelstein, he said in a press release-- Shopify launched several new key strategic products in 2022. And we're excited about the potential for them to help our merchants succeed.

Now, you'll recall that last quarter, Shopify placed in a new CFO. It cut jobs early when tech companies were cutting jobs. It cut jobs early last year. It also, this year, increased prices on its merchants.

So year-to-date, the stock is up 45%. Last year, the stock had gotten hammered. Right now, we're seeing it slightly lower in after hours. Guys.

DAVE BRIGGS: Interesting to see a beat on the top and the bottom and some positive commentary and shares falling. Ines Ferre, thanks so much.