Shopify logs earnings beat, but its stock retreats

Shopify Inc. beat profit expectations for the latest quarter and projected margin improvement for the current one, but its shares were pulling back in Tuesday’s premarket action. The company, which enables businesses to run online shops, posted fourth-quarter net income of $657 million, or 51 cents a share, whereas Shopify SHOP, -1.82% SHOP, -1.76% logged a net loss of $623 million, or 49 cents a share, in the year-before quarter. On an adjusted basis, Shopify posted 34 cents in earnings per share, up ...