Shopify Smashes Estimates With Q4 Results
The leading global commerce company Shopify has recently announced its financial results for Q4 and the full year ended December 31, 2020. This article is about the reported results such as the growth rate driven by COVID-19, and more. So, if you’re interested in payment integrations and Shopify’s Q4 results, you’re at the right place.
Shopify Q4 Results & Payment Integrations
Shopify, the Ottawa-based eCommerce giant, has recently reported a 4-fold rise in adjusted net income for the 3 months ending Dec. 31. The company earned $198.8 million as compared to $50 million in 2019.
Based on Shopify’s 2021 outlook, consumer spending is going to partly get back to offline retail and services. As for the ongoing shift to eCommerce, it’s likely to obtain a more normalized growth pace.
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What the Report Showed
Based on the report, Shopify’s Q4 results have been better than anticipated. The company went on building the foundation of Shopify Fulfillment Network, worked on the further development of its software, as well as on support capabilities and fulfillment operations. Let’s look at some results that the company has reported:
- During Q4 of 2020, the merchant cash advances (MCAs) and loans from Shopify Capital that merchants in the U.S., Canada, and the U.K. received made up $226.9 million.
- The revenue in Q4 accounted for US$978 million, which appeared to be more than the expectations (U.S.$910 million) expressed by the analysts in the field. The reason had to do with the rise in online shopping caused by COVID-19.
So, eCommerce giant Shopify’s Q4 results exceeded the analysts’ expectations expressed earlier. The retail sales grew in January by 5.3%. This came after 3 consecutive months of drop in sales during the holiday shopping season in 2020.