Shopify Inc. (SHOP) shares plummeted 5.09% during intraday trading on Wednesday, reversing earlier pre-market gains. The e-commerce platform reported mixed fourth-quarter results, with revenue exceeding expectations but adjusted earnings per share falling short of analyst estimates.

While Shopify posted better-than-expected revenue growth of 31% to $3.67 billion and announced a $2 billion share buyback program, adjusted earnings of 48 cents per share missed the consensus call for 50 cents. The company also reported a decline in net income compared to the year-ago period.

The sell-off reflects ongoing investor concerns about how artificial intelligence will reshape the software industry, contributing to a widespread pullback in tech stocks. Shopify's stock had already fallen 21% in 2026 prior to the earnings release, succumbing to these broader sector pressures despite the company's integration of AI tools into its platform.