The Globe and Mail reports in its Thursday edition that Shopify has set aside $2-billion (U.S.) for a share buyback program to help lift shareholder sentiment after a month in which investors shed software stocks on concerns tied to artificial intelligence. The Globe's Irene Galea writes that the e-commerce player on Wednesday also announced higher revenue and gross profit in its fourth quarter, and continued growth and profit guidance for the current quarter. Its quarterly results and forecast both beat analysts' expectations However, the company estimated that its free cash flow margin would be in the "low-to-mid teens" during the current quarter, slightly below last year and compared with analyst consensus of 17 per cent. Despite the share buyback program and earnings growth, Shopify shares in Toronto were down 8.5 per cent in late afternoon trading. The company said its board had authorized the $2-billion (U.S.) share repurchase plan and that it expects the program to be carried out using prearranged algorithmic trading instructions, with no set quarterly or annual minimums. "We view the buyback as signaling management's confidence in the business," said Scotiabank analyst Kevin Krishnaratne said in a note.