Stock Groups

Shopify beats estimates for holiday-quarter revenue -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: A Shopify employee is working at the Ottawa headquarters of Shopify, Ontario Canada. This was October 22, 2018. REUTERS/Chris Wattie/File Photograph

(Reuters) – Shopify Inc, Canada (NYSE) Inc beat Wednesday’s revenue estimates for the holiday period. The surge in online sales has driven strong demand for Shopify tools and services for e-commerce.

The fourth quarter revenue was $1.38 Billion, compared to $977.7 M a year ago. Refinitiv data shows that analysts expected $1.33 billion.

Gross merchandise volume (which is the amount of total sales made by the company) was $54.1Billion, which represents an increase in 31%.

Shopify, a Ottawa company that offers subscription-based software to help merchants create online shops and also provides other services such as shipping or payment processing.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses caused by the data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]