Shopify Crushes Q4 Estimates, Stock Rockets 10%
E-commerce giant beats revenue expectations and forecasts even stronger growth ahead, sending investors into a frenzy.
Shopify just dropped a Q4 earnings report that made Wall Street very happy. The e-commerce platform pulled in $3.7 billion in revenue, up 31% year-over-year and comfortably ahead of the $3.59 billion analysts expected.
But the real kicker? The company's Q1 forecast. Shopify expects revenue growth in the low-thirties percentage range. Analysts had penciled in 25%. That's a significant beat on guidance.
The market responded predictably. SHOP shares jumped 10% on the news.
The strong numbers reflect continued momentum in consumer spending on the platform. Shopify has been riding a wave of merchants choosing its tools to power their online stores, and clearly that momentum isn't slowing down.
For a company that's already massive, posting 30%+ growth is no small feat.