we discuss that with shopify president, harley finkelstein. keeping an eye on youtube as its ceo announces her departure. we will bring you more of the changing of the guard at the video streaming platform next. this is bloomberg. ♪ go. go scientist. go software. go cure. go production. go faster and safer. emerson automation software helps breakthrough medicines get to market at warp speed. go human go. go boldly. emerson. introducing the new sleep number climate360 smart bed. only smart bed in the world that actively cools, warms, get to market at warp speed. and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. ed: shares of shopify plunging today after earning 16% drop, biggest and a year. the revenue forecast for the current fiscal quarter below expectations. must be interesting, at least five analysts raised their price targets on the stock despite that drop. you see it on a two day basis the picture they're telling the story. joining us to

harley finkelstein joins us.eat on revenue but is the street picking on the q1 revenue guide? >> thanks. let me start with the results from q4 and talk about the guidance because that's coming up a lot are right now i think 2022 marked a strong year for shopry fi and reflected not only our merchants and businesses but shop by itself. gnb was up for the quarter for 2022, we actually saw $200 billion of gnb go through our platform, three times more than in 2019. about 560 million consumers bought from the shopify store last year. we've powered over half a trillion of global commerce. on the revenue side we saw revenue for q4 in come in $1.7 billion, up on a currency basis. all that happened at the same time adjusted operating income grew to $61 million and operating expense growth continued to decelerate from q3 to q4. what i hope people see is the last two quarters have proven we can drive cost structure and grow revenue and invest in critical areas and you see brands like supreme and black and decker and mattel m

concerned about the company's weaker than expected sales guidance earlier on "squawk on the sheet" harley finkelstein the top line and on the bottom line and all the while we're making these changes like some of the layoffs that, again, not fun to do but that isn't necessary. we're taking our medicine because we want to be a long-term, 100-year company. >> shopify taking down a lot of names today. what can you tell us >> the long-term trajectory for shopify, sara, does seem to be intact right now there were a lot of analysts surprised. that's a strong holiday season the near-term results are causing some of the jitters here that offset some of the potential long-term strength there's questions over margins they have a lot of competition now with this buy with prime that amazon is doing questions about merchant growth and shopify didn't give annual outlook. they gave for the current quarter but that was causing some fears in terms of what to expect going forward and you can see it really sunk the stock this week and today, yesterday in particular. really fears over struggling for profit even though th