Shopify Inc. shares SHOP, -3.38% fell 5% in premarket trade Tuesday, after the multi-channel shopping platform posted a loss for the fourth quarter. The company said it had a net loss of $1.514 million, or 1 cents a share, narrower than the $2.987 million loss, or 3 cents a share, posted in the year-earlier period. Adjusted per-share earnings came to 26 cents a share, ahead of the 21 cents FactSet consensus. Revenue rose to $343.9 million from $222.8 million, also ahead of the FactSet consensus of $327.0 million. Subscription Solutions revenue rose 42% to $133.6 million, driven by growth in monthly recurring revenue as more merchants joined the platform. MRR was up 37% to $40.9 million. Gross Merchandise Volume rose by 54% to $14.0 billion, while gross payments volume rose to $5.7 billion from $3.5 billion. The company is now expecting first-quarter revenue of $305 million to $310 million and full-year revenue of $1.46 billion to $1.48 billion. The FactSet consensus is for first-quarter revenue of $308 million and full-year revenue of $1.473 billion. Shares have gained 35% in the last 12 months, while the S&P 500 SPX, +1.16% has gained 2%.
Shopify Inc. shares were trading at $168.08 per share on Tuesday morning, down $5.09 (-2.94%). Year-to-date, SHOP has gained 21.40%, versus a 9.58% rise in the benchmark S&P 500 index during the same period.
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