OTTAWA, Ontario (AP) — OTTAWA, Ontario (AP) — Shopify Inc. (SHOP) on Tuesday reported fourth-quarter net income of $657 million.
The Ottawa, Ontario-based company said it had profit of 51 cents per share. Earnings, adjusted for non-recurring gains, came to 34 cents per share.
The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The cloud-based commerce company posted revenue of $2.14 billion in the period, also surpassing Street forecasts. Sixteen analysts surveyed by Zacks expected $2.07 billion.
For the year, the company reported profit of $132 million, or 10 cents per share. Revenue was reported as $7.06 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHOP at https://www.zacks.com/ap/SHOP