OTTAWA — Shopify Inc. reported a profit of US$771,000 in its latest quarter compared with a loss of US$1.5 million in the same quarter a year earlier as its revenue grew 47%.
The company, which keeps its books in U.S. dollars, says the profit amounted to a penny per share for the three-month period ended Dec. 31 compared with a loss of a penny for the last three months of 2018.
Revenue for the quarter at the company which provides technology to online retailers totalled nearly US$505.2 million, up from nearly US$343.9 million a year earlier.
Shopify says its adjusted net income for the fourth quarter amounted to US$50.0 million or 43 cents per share, compared with adjusted net income of US$29.4 million or 27 cents per share for the fourth quarter of 2018.
Analysts on average had expected an adjusted profit of 24 cents per share, according to financial markets data firm Refinitiv.
In its outlook, Shopify says it expects first-quarter revenue between US$440 million and US$446 million. Full-year revenue is expected in a range of US$2.13 billion to US$2.16 billion.News from © Canadian Press Enterprises Inc. 2020