Shopify Soars as Holiday Surge Pushes Revenue Past Estimates
- Company reported 243,000 customers at end of fourth quarter
- Forecasts 2016 revenue of $320 million to $330 million
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Shopify Inc., the Canadian e-commerce software maker, soared as much as 21 percent after a rush of new customers over the holiday season boosted its earnings past analyst estimates.
The Ottawa-based company reported a loss of 1 cent a share, excluding some items, compared with a projected 5-cent loss, the average of nine estimates compiled by Bloomberg. Revenue of $70.2 million beat estimates averaging $61.2 million as the company’s customer base grew to 243,000 compared to around 200,000 in the third quarter.