Shopify reports 4Q loss

OTTAWA, Ontario (AP) _ Shopify Inc. (SHOP) on Wednesday reported a loss of $8.9 million in its fourth quarter.

On a per-share basis, the Ottawa, Ontario-based company said it had a loss of 10 cents. Earnings, adjusted for stock option expense, came to less than 1 cent on a per-share basis.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.

The cloud-based commerce company posted revenue of $130.4 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $121.9 million.

For the year, the company reported that its loss widened to $35.4 million, or 42 cents per share. Revenue was reported as $389.3 million.

For the current quarter ending in April, Shopify said it expects revenue in the range of $120 million to $122 million.

The company expects full-year revenue in the range of $580 million to $600 million.

Shopify shares have increased 31 percent since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHOP at https://www.zacks.com/ap/SHOP

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Keywords: Shopify, Earnings Report