Shopify SHOP reported adjusted fourth-quarter earnings of 43 cents per share on Wednesday, which beat the analyst consensus estimate of 24 cents by 79.17%. This is a 65.38% increase over earnings of 26 cents per share from the same period last year.
The company reported quarterly sales of $505.2 million, which beat the analyst consensus estimate of $482.05 million by 4.80%. This is a 46.92%increase over sales of $343.862 million the same period last year.
Shopify sees first-quarter sales $440-$446 million versus the $444.5 million estimate and sees fiscal year 2020 sales at $2.13-$2.16 billion versus the $2.11 billion estimate.
"Our investments to enhance our product offerings and expand internationally are attracting entrepreneurs worldwide and helping them succeed, as demonstrated by strong GMV growth in 2019,” said Amy Shapero, Shopify's CFO. “In 2020, we will continue to invest in our portfolio of growth initiatives to better serve merchants and energize the flywheel well into the future."
Shopify shares were trading up 9.13% at $537.75 in Wednesday’s pre-market session. The stock has a 52-week range between $409.61 and $117.64.
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