HomeBusinessShopify beats estimates for holiday-quarter revenue

Shopify beats estimates for holiday-quarter revenue

:Canada’s Shopify Inc on Wednesday beat revenue estimates for the vacation quarter as a increase in on-line procuring drives robust demand for its instruments and providers that cater to e-commerce.

Revenue was $1.38 billion for the fourth quarter ended Dec. 31, in contrast with $977.7 million a yr earlier. Analysts have been anticipating $1.33 billion, in response to Refinitiv information.

Gross merchandise quantity, which is the full quantity of gross sales the corporate raked in, was $54.1 billion, a rise of 31per cent.

Ottawa-based Shopify helps retailers arrange their on-line shops by way of subscription-based software program and presents different ancillary providers from delivery to fee processing.

(Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)

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