(Updates with recent stock movement in headline and first paragraph, share repurchase program announcement in sixth and seventh paragraphs.)
Shopify (SHOP) shares were down 9% in recent trading on Wednesday after the company reported Q4 net income that declined compared with the same period in 2024.
The company reported Q4 net income Wednesday of $0.57 per diluted share, down from $0.99 a year earlier.
Analysts polled by FactSet expected $0.44.
Revenue for the quarter ended Dec. 31 was $3.67 billion, up from $2.81 billion a year earlier.
Analysts surveyed by FactSet expected $3.66 billion.
The company also said its board authorized a share repurchase program of up to $2 billion, provided the number repurchased does not surpass 5% of its issued and outstanding shares.
The program is effective on Feb. 17 and does not have a fixed expiration, Shopify said.
Price: 117.22, Change: -10.03, Percent Change: -7.88