Shopify stock pulls back despite strong financials

Shopify Inc (TSX:SH., NYSE:SHOP) stock traded lower in Tuesday’s early deals despite a strong trading performance at the end of 2023. At $2.1 billion, Shopify reported a 24% increase in fourth quarter revenue – or 30% after adjusting for the sale of Shopify’s logistics business – whilst total merchandising across the firm’s platform similarly showed a 23% improvement up to $75.1 billion. Gross profit was up 33% to $1.1 billion. Shopify reported an operating income margin of 13%, and a free cash flow margin ...