Web site creator Wix.com studies first-quarter revenue fall, income bounce By Reuters

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© Reuters. FILE PHOTO: The places of work website-designer agency Wix.com are proven in Tel Aviv, Israel July 4, 2016. Image taken July 4, 2016. REUTERS/Baz Ratner/File Picture

JERUSALEM (Reuters) – Israel’s Wix (NASDAQ:).com on Wednesday reported a wider first-quarter loss on greater bills however a bounce in income from its providers serving to small companies construct and function web sites.

It misplaced 54 cents per share excluding one-time objects versus a lack of 1 cent per share a yr earlier as analysis and growth and different bills rose.

Income grew 41% to $304.1 million.

Analysts had forecast a lack of 66 cents per share on income of $295.2 million, I/B/E/S information from Refinitiv confirmed.

Wix raised its outlook for 2021 and expects income of $1.28-$1.29 billion for annual progress of 29-30% versus an estimate of $1.272-$1.286 billion made in February.

“Whereas companies more and more require on-line commerce capabilities, we consider our progress will proceed all year long,” the corporate stated.

For the second quarter, Wix initiatives income of $308-$312 million, up 30-32% from final yr. Analysts are forecasting Wix will publish income of $312.3 million within the April-June interval.

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