Shopify Reaches $5 Billion Valuation Following Impressive Quarterly Earnings

Shopify’s stock soared 6% today after it posted a quarterly earnings that impressed investors.

The Ottawa company booked revenue of $130 million USD in the fourth quarter, an increase of 86% over the same quarter a year prior and ahead of expectations.

Losses rose from $6 million to $9 million because of increased expenses, but that didn’t slow the company’s stock from soaring above $5 billion valuation for the first time.

Shopify says it expects to earn revenue upward of $600 million this year, which would be a year-over-year increase of almost 50%.

The Canadian ecommerce company now has 378,000 merchants using its platform.

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