Shopify's Q4 Earnings Top Expectations
OTTAWA, Ontario -- Shopify Inc. (SHOP) reported fourth-quarter earnings of $1.29 billion on Tuesday. The Ottawa, Ontario-based company reported net income of 99 cents per share. Adjusted earnings came in at 44 cents per share, meeting Wall Street expectations.
The average estimate from 16 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. The cloud-based commerce company posted revenue of $2.81 billion in the period, exceeding Street forecasts. Sixteen analysts surveyed by Zacks predicted revenue of $2.72 billion.
For the year, Shopify reported profit of $2.02 billion, or $1.55 per share. Revenue was reported at $8.88 billion.