The Ottawa-based company, which provides tools and services for businesses to run their stores online, said revenue climbed 26 per cent to US$1.7-billion for the quarter ended Dec. 31, 2022, while adjusted operating income dropped to US$61-million from US$130.2-million a year earlier.
In a conference call with analysts late on Wednesday, chief executive officer Tobias Lutke characterized current economic conditions as a period of learning for Shopify. “Profitability is a consequence of growth and efficiency combined,” he said. “We have been profitable many times before. … Over time, profitability will take care of itself.”
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