Shopify Inc Q4 Profit Increases, Beats Estimates

(RTTNews) - 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.