By Nate Wolf

Shopify stock rose sharply Wednesday as the e-commerce platform missed earnings expectations but reported better-than-expected growth and announced a $2 billion stock buyback program.

The company reported adjusted earnings of 48 cents in the fourth quarter, below analysts' consensus calls for 50 cents, according to FactSet. Revenue totaled $3.67 billion, up 31% from a year ago and above Wall Street's forecast of $3.59 billion.

Gross merchandise volume from merchant customers also rose 31% to $123.8 billion, surpassing the 28% gain analysts expected.

Shopify shares jumped 11% in premarket trading. The stock had fallen 21% in 2026 as of Tuesday's close of trading, succumbing to the widespread pullback in tech stocks even as the company integrates artificial-intelligence tools into its platform.

The company expects revenue to continue growing at a "low-thirties" percentage rate in the first quarter of 2026. Wall Street had forecast 25% year-over-year growth for the quarter.

Shopify's board also authorized a share repurchase program of up to $2 billion. It expects to execute the buybacks using pre-arranged algorithmic trading instructions, with no quarterly or yearly minimums, the company said.

Write to Nate Wolf at nate.wolf@barrons.com

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February 11, 2026 07:16 ET (12:16 GMT)

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