OTTAWA — Shopify Inc. reported a fourth-quarter net income of US$1.29 billion, up from US$657 million a year ago, as its revenue rose more than 30 per cent.
The e-commerce software company, which keeps its books in U.S. dollars, says the profit amounted to 99 cents US per diluted share for the quarter ended Dec. 31 compared with 51 cents US per diluted share a year ago.
Revenue totalled US$2.81 billion, up from US$2.14 billion in the last three months of 2023.
The increase in revenue came as subscription solutions revenue totalled US$666 million, up from US$525 million a year ago.
Merchant solutions revenue for the quarter totalled US$2.15 billion, up from US$1.62 billion in the last three months of 2023.
In its outlook for the first quarter of 2025, the company says it expects revenue to grow at a mid-twenties percentage rate on a year-over-year basis.
This report by The Canadian Press was first published Feb. 11, 2025.
Companies in this story: (TSX:SHOP)
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