Key Points Shopify earned 43% of its 2025 operating income in the fourth quarter, the most holiday-concentrated of the three. Amazon's December quarter delivered about 31% of the company's 2025 operating income. MercadoLibre's fourth-quarter share of annual operating profit fell last year as the company spent to win the season. 10 stocks we like better than Shopify › The holiday quarter starts in about two weeks. And for e-commerce companies, it's the three months that matter most. Consider Shopify (NASDAQ:SHOP) . The e-commerce software company earned $631 million of operating income in last year's fourth quarter -- 43% of its operating income for all of 2025.
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