Shopify (NYSE:SHOP) earnings for the e-commerce company’s fourth quarter of 2019 have SHOP stock heading higher on Wednesday. That’s thanks to its adjusted earnings per share (EPS) of 43 cents, which easily beat out Wall Street’s estimate of 24 cents for the quarter. Revenue of $505.2 million also blows past analysts’ estimates of $482.05 million.
Here’s what else is worth noting about the Shopify earnings report for Q4 2019.
- Adjusted per-share earnings are up 59.26% from 27 cents during the same time last year.
- Revenue comes in 47% higher than what was reported in the fourth quarter of 2018.
- Operating loss of -$30.1 million is 216.84% wider YoY than -$9.5 million.
- The Shopify earnings report also includes a net income of $800,000.
- That’s much better than the company’s net loss of -$1.50 million from the same period of the year prior.
Amy Shapero, CFO of Shopify, had this to say about the Q4 SHOP stock earnings report”
“Shopify’s merchants had a tremendous fourth quarter, powered by our ongoing efforts to help them sell more and manage their businesses more effectively. Our investments to enhance our product offerings and expand internationally are attracting entrepreneurs worldwide and helping them succeed, as demonstrated by strong GMV growth in 2019.”
The Shopify earnings report also includes its 2020 outlook. This has the company expecting revenue for the year to range from $2.13 billion to $2.16 billion. If that is the case, it will easily beat out Wall Street’s estimate of $2.11 billion for the year.
SHOP stock rose more than 10% as of Wednesday afternoon, and is currently up around 8%.
As of this writing, William White did not hold a position in any of the aforementioned securities.