Shopify Stock Falls Despite Better-Than-Expected Profit and Revenue

Shopify reported a quarterly profit and stronger-than-expected revenue, and said that it expects better revenue growth this year. Revenue topped expectations for the quarter, rising to $2.14 billion, which Shopify attributed to more products being sold through its platform. Looking ahead, Shopify said it expects revenue to grow at a low-twenties percentage rate on a year-over-year basis from the $7.06 billion generated across 2023.