Shopify reported fourth-quarter results that exceeded expectations, with earnings per share at 48 cents and revenue at $3.67 billion, causing the stock to drop over 3%. The company anticipates first-quarter revenue growth in the low-thirties percentage range, higher than analyst forecasts. Shopify also approved $2 billion in share buybacks.
Holiday spending in 2025 hit a record high, boosting Shopify’s revenues. Online spending during the holiday season increased by 6.8% to $257.8 billion, surpassing Adobe Analytics’ forecast of $253.4 billion. Despite economic challenges, consumers remained resilient during the holiday shopping season.
Despite a solid shopping season, December retail sales were flat following a 0.6% increase in November. This weak end to the year was attributed to various factors including consumer confidence decline, tariff policies, and a slowing job market. Shopify’s gross merchandise volume reached $123.8 billion, exceeding analysts’ expectations of $121.3 billion.

Read more at CNBC: Shopify (SHOP) earnings Q4 2025