Shopify Inc (NYSE:SHOP) stock was having a rough time of it today despite reporting an earnings beat for the fourth quarter of 2017.

Earnings per share reported by Shopify Inc for the fourth quarter of the year came in at 15 cents. This is much better than its flat earnings per share for the fourth quarter of 2016. It also beat out Wall Street’s earnings per share estimate of 5 cents for the period.

Shopify Inc also reported a net loss of $2.99 billion for the fourth quarter of 2017. This is an improvement over its net loss of $8.87 billion that was reported in the fourth quarter of the previous year.

Revenue reported by Shopify Inc for the fourth quarter of the year was $222.81 million. The e-commerce company reported revenue of $130.38 million in the same period of the year prior. Analysts were looking for it to report revenue of $209.28 million for the quarter.

Shopify Inc’s most recent earnings report also includes revenue expectations for the full year of 2018. The company says that it is expecting revenue for the year to range from $970 million to $990 million. Wall Street is estimating revenue of $956.92 million for the full year of 2018.

For the fist quarter of 2018, Shopify Inc is expecting revenue to come in between $198 million and $202 million. Analysts’s have their revenue estimates for the first quarter of 2018 set at $195.11 million.

Despite the strong earnings report for the fourth quarter of 2017, SHOP stock was still down 1% as of noon Thursday. This is likely due to the company’s quarterly revenue growth being the slowest since it joined the public market in 2015.

As of this writing, William White did not hold a position in any of the aforementioned securities.