The company offered guidance for the first quarter that blew past analysts' estimates, projecting revenue would increase at a "low-thirties percentage rate."
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Shopify
on Wednesday reported fourth-quarter results that beat on the top line and gave strong guidance to start the year. The stock slid more than 3%.
Here’s how the company did, compared with estimates from analysts polled by LSEG:
The Canadian e-commerce company said it expects first-quarter revenue to expand at a “low-thirties percentage rate” year over year, which is higher than the 25.1% growth forecast by analysts, according to FactSet.
The company, which provides software for small businesses, also gave strong guidance for the third quarter.
Shopify is up about 50% year to date and reached an all-time high in October.
Mizuho and TD Cowen respectively see Shopify rallying 26% and 34%.
The company said it expects first-quarter sales to come in between $951 million to $971 million, trailing analyst estimates of…
Companies reporting earnings next week with a history of exceeding expectations include Shopify.
Salesforce posted accelerating growth and pushed up its long-range revenue target thanks to a recent acquisition.
