The Globe and Mail reports in its Wednesday edition that Shopify on Tuesday posted double-digit revenue growth and strong fourth-quarter profit, topping analyst expectations after a strong holiday season and a year of work-force cuts. The Globe's Irene Galea writes that the Ottawa company, which provides tools for businesses to run their stores on-line, said its revenue was $2.1-billion (U.S.) for the quarter ended Dec. 31, up 24 per cent from the same period last year. Shopify reported net income of $657-million (U.S.) for the quarter, compared with a net loss of $623-million (U.S.) a year earlier. "Other income," including the fluctuating value of its stakes in other companies, made up about 60 per cent of income for the quarter. Total sales through its platform increased 23 per cent to $75.1-billion (U.S.) over the quarter, representing the fifth consecutive quarter of accelerating growth. Jeff Hoffmeister, Shopify's chief financial officer, told analysts Tuesday morning that the revenue was driven by a strong Black Friday, Cyber Monday and holiday season. Shopify closed Tuesday at $104.85, down $15.04 on the Toronto Stock Exchange. National Bank analyst Richard Tse said expectations were high going into the quarter.