Shopify (NYSE:SHOP) Beats Earnings with $977.7 million in Revenue but Stock Falls after Market

 

Shopify Inc. (NYSE:SHOP), a leading global commerce company, announced today strong financial results for the fourth quarter and full year ended December 31, 2020.

• Total revenue in the fourth quarter was $977.7 million, a 94% increase from the comparable quarter in
2019.
• Subscription Solutions revenue was $279.4 million, up 53% year over year, primarily due to more
merchants joining the platform.
• Merchant Solutions revenue growth increased 117%, to $698.3 million, driven primarily by the growth of
Gross Merchandise Volume1
“The spirit of entrepreneurship was strong in 2020, as our merchants’ resilience and ability to adapt helped many of
them thrive in a difficult year,” said Harley Finkelstein, Shopify’s President. “Shopify is at the heart of our
merchants’ businesses with entrepreneurs around the world trusting us with their livelihoods. This year, we are
doubling down on creating a frictionless path to successful entrepreneurship, as we continue to build a future-proof
commerce solution to serve generations to come.”

 

 

“Our fourth-quarter results capped off an outstanding 2020, thanks to the success of our merchants in a year that
truly tested their mettle and triggered more entrepreneurs around the world to start their journey toward economic
independence,” said Amy Shapero, Shopify’s CFO. “Shopify was prepared to ship the features that our merchants
needed during the pandemic because we had invested for several years in a future that arrived early with the
acceleration of online commerce.

 


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