Net income was $771,000, or 1 cent a share, compared with a net loss of $1.5 million, or 1 cent, in the year-earlier period. Adjusted earnings came to 43 cents, ahead of analysts' call for 23 cents according to a FactSet survey.
Revenue increased 47% to $505.2 million, beating analysts' expectations of $481.9 million.
Shopify’s internet-based platform enables small and medium-sized retailers to run all aspects of their businesses via all online channels and through fixed and pop-up brick-and-mortar shops.
Subscription-solutions revenue grew 37% to $183.2 million, exceeding the FactSet consensus of $177.9 million. The increase was driven primarily by growth in monthly recurring revenue, the company said, largely as a result of an increase in the number of merchants joining the Shopify platform.
Merchant-solutions revenue increased 53% to $322 million, topping expectations of $304 million.
From the start of Black Friday in New Zealand, through the end of Cyber Monday in California, the company said, sales on Shopify’s platform reached more than $2.9 billion, with the majority coming from mobile devices.
This compares with more than $1.8 billion in gross merchandise volume for the Black-Friday-to-Cyber-Monday period in 2018.
Looking ahead, Shopify said it expects 2020 revenue to range from $2.13 billion to $2.16 billion, compared with FactSet's call for $2.12 billion.
For the first quarter, Shopify is calling for revenue to range $440 million to $446 million. The range brackets the Bloomberg-survey-derived first-quarter estimate of $443.3 million.
“Our investments to enhance our product offerings and expand internationally are attracting entrepreneurs worldwide and helping them succeed, as demonstrated by strong gross-merchandise-volume growth in 2019," Amy Shapero, Shopify’s CFO, said in a statement.
At last check, Shopify's shares were trading up 13% at $558.59.