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Shopify shares fall in premarket even as loss narrows, revenue up more than 50%

Shopify shares fall in premarket even as loss narrows, revenue up more than 50%
Business
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.

Shopify shares fell about 3.6 per cent in premarket, however, after the company reported slowing rate of growth in total sales by vendors using its software in the fourth quarter.

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.

 

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