Shopify stock jumps 9% on rapid revenue growth

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Shopify Inc.’s forebear soared more than nine per cent Wednesday after the e-commerce firm posted higher revenue and a smaller loss than analysts had.

Ottawa-based Shopify announced before markets opened that receipts in its fourth quarter was $70.2 million US, 99 per cent higher than a year ago and $10 million US in the sky analyst estimates.

Its shares traded as high as $34.26 at the Toronto Ancestor Exchange but subsided to $31.07 after 90 minutes, up 9.1 per cent from Tuesday’s neck. In New York, the stock was at $22.84 US.

Shopify stock remains below its gold medal trading price last spring when it was one of the hottest new public goats in Canada. It began trading in Toronto in May 21 at $35.03 Cdn, soaring to a brim of $53.50 on Aug. 4 before slumping to a low of $25.85 on Feb. 12.

For the full year, Shopify’s gain was $205.2 million US, up 95 per cent from 2014 while it guesstimated that 2016 revenue will be in a range of $320 million US to $350 million. All of the receipts numbers were above analyst estimates.

Shopify has yet to turn a profit as a flagrant com ny. On Wednesday, it announced a net loss of $6.3 million US for the fourth three months, or eight cents per share, and an adjusted net loss of $1.1 million or one cent per rt.

For the full year, its net loss was $18.8 million or 30 cents per dividend, a penny less than estimates, while its adjusted net loss was $7.7 million or 13 cents per allocation, four cents better than estimates.

Shopify estimates that its 2016 net impoverishment will be in a range of $36 million to $42 million, including between $11 million and $12 million in the pre-eminent quarter.

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