OTTAWA — Shopify Inc. reported a better-than-expected fourth quarter as its revenue jumped 71 per cent compared with a year ago.
The e-commerce company, which keeps its books in U.S. dollars, says it lost $3 million or three cents per share in the last three months of 2017.
That compared with a loss of $8.9 million or 10 cents per share a year earlier.
Revenue totalled $222.8 million, up from $130.4 million.
On an adjusted basis, Shopify says it earned $14.7 million or 15 cents per share for the quarter compared with an adjusted loss of $400,000 or zero cents per share in the fourth quarter of 2016.
Analysts on average had expected an adjusted profit of five cents per share and $209.3 million in revenue, according to Thomson Reuters.
“That our merchants sold more in the fourth quarter than in all of 2015, achieving one billion dollars of this in just four days, speaks to how far we have come in the past few years,” Shopify chief financial officer Russ Jones said in a statement.
“Our leadership role in commerce, together with the scale we have achieved, position us well to invest in our next phase of growth: one marked by expansion of our capabilities upmarket and down, in retail, in our ecosystem, and internationally.”