February 22nd, 2019

Shopify fourth-quarter loss narrows to $1.5M, revenue up more than 50 per cent


By The Canadian Press on February 12, 2019.

A Shopify logo is seen during an event in Toronto on Tuesday, May 8, 2018. THE CANADIAN PRESS/Nathan Denette

OTTAWA – Shopify Inc. reported a fourth-quarter loss of $1.5 million compared with a loss of $3 million in the same quarter a year earlier.

The Ottawa-based e-commerce company, which keeps its books in U.S. dollars, says the loss amounted to a penny per share for the quarter ended Dec. 31 compared with a loss of three cents per share a year earlier.

Revenue for the quarter totalled $343.9 million, up from $222.8 million in the last three months of 2017.

On an adjusted basis, Shopify reported a profit of 26 cents per share, up from an adjusted profit of 15 per share in the fourth quarter of 2017.

Analysts on average had expected a profit of 20 cents per share, according to Thomson Reuters Eikon.

For the full year, Shopify reported a loss of $64.6 million or 61 cents per share on $1.07 billion in revenue compared with a loss of $40.0 million or 42 cents per share on $673.3 million in revenue in 2017.

Companies in this story: (TSX:SHOP)

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