Shopify posted strong 4Q results driven by booming online sales growth as consumers shopped from home due to pandemic-led restrictions. However, shares dropped 3.3% and closed at $1,425 on Feb. 17, as the Canadian e-commerce platform expects sales to grow at a slower pace this year. The Canadian e-commerce platform’s 4Q adjusted earnings more than tripled to $1.58 per share on a year-over-year basis and outpaced Street estimates of $1.25. Revenues jumped 94% to $977.7 million topping analysts’ expectations of $910.22 million. Shopify’s (SHOP) merchant solutions revenue came in at $698.3 million, up 117% year-over-year, driven mainly by gross merchandise volume (GMV) growth of 99%.
https://www.tipranks.com/news/shopifys-4q-sales-pop-94-as-online-buying-booms-shares-dip-3-3