Shopify (SHOP.TO, SHOP) was last seen down 1% in premarket New York trading -- but it was down nearer 4% a short time ago -- after the E-Commerce company on Tuesday said its fourth-quarter profit and revenue were sharply higher, but expects slower growth in the first quarter of 2025.
The company said its profit in the fourth quarter rose 31% to US$458 million from US$337 million in the year-prior period. Per-share results were not provided.
Revenue rose 31% to US$2.81 billion from US$2.14 million, above the FactSet consensus estimate for sales of US$2.73 billion.
"Q4 marks our seventh consecutive quarter of 25% or greater revenue growth when excluding logistics. Moreover, we grew free cash flow margin sequentially each quarter of 2024, reaching 22% for Q4," chief financial officer Jeff Hoffmeister said in a release.
The company said it expects revenue growth to slow in the first quarter of this year, rising in the mid-20% range , with gross profit rising in the same range.
The company's shares were last seen down US$3.90 to US$116.00. They closed up $3.88 to $171.55 Monday on the Toronto Stock Exchange.
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