Shopify Inc (SHOP) announced a profit for its fourth quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $1.293 billion, or $0.99 per share. This compares with $657 million, or $0.51 per share, last year.
Excluding items, Shopify Inc reported adjusted earnings of $575 million or $0.44 per share for the period.
Analysts on average had expected the company to earn $0.43 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 31.2% to $2.812 billion from $2.144 billion last year.
Shopify Inc earnings at a glance (GAAP) :
-Earnings: $1.293 Bln. vs. $657 Mln. last year.-EPS: $0.99 vs. $0.51 last year.-Revenue: $2.812 Bln vs. $2.144 Bln last year.
Looking ahead, for the first quarter, the company expects its revenue to grow at a mid-twenties percentage rate.
SHOP was down by 3.84 percent at $115.30 in the pre-market trade on the New York Stock Exchange.
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