Shopify profits and revenue jump off back of new initiatives

By Megan Robinson2023-02-17T12:22:00

Shopify homepage showing desktop and phone with text saying: 'Sell online with Shopify: Trusted by over 1,000,000 businesses worldwide'

Ecommerce platform Shopify has recorded an increase in profit and revenue for the fourth quarter and full year in 2022, driven by “new strategic products”.

Profit in Q4 grew 15% to $798.5m (£668m) year on year, while profit for the full year ending December 31, 2022, grew 11% to $2.8bn (£2.3bn) in 2022, compared with $2.5bn (£2.1bn) in 2021.

Total revenue in Q4 increased by 26% to $1.7bn (£1.4bn) compared with the same period last year, while FY22 revenue increased 21% to $5.6bn (£4.7bn).

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