Shopify’s Q4 Results Top Estimates, But Its Outlook Underwhelms [Video]

Shopify (SHOP) reported fourth-quarter results that topped analysts’ estimates after a strong holiday season, but its outlook disappointed.

Shopify posted adjusted earnings per share (EPS) of 44 cents for the fourth quarter, with revenue soaring 31.2% year-over-year to $2.81 billion. Both figures exceeded analysts’ estimates compiled by Visible Alpha.

CFO Jeff Hoffmeister said the company was “thrilled” with the performance, adding that the firm’s results “are a testament to our strategic initiatives and operational discipline.”

Shopify said it expects current-quarter revenue to grow by a percentage in the mid-twenties, roughly in line with consensus estimates, though Jefferies analysts suggested investors may have been looking for more.

Shares of Shopify wavered between gains and losses in intraday trading Tuesday following the release. They’ve added more than 50% in the last year.