Wix.com: Q1 Earnings Snapshot
TEL AVIV, Israel (AP) _ Wix.com Ltd. (WIX) on Monday reported a loss of $227.3 million in its first quarter.
On a per-share basis, the Tel Aviv, Israel-based company said it had a loss of $3.95. Losses, adjusted for one-time gains and costs, came to 72 cents per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share.
The cloud-based web development company posted revenue of $341.6 million in the period, which beat Street forecasts. Ten analysts surveyed by Zacks expected $340.1 million.
For the current quarter ending in July, Wix.com said it expects revenue in the range of $342 million to $346 million.