Website builder lowers revenue outlook, which helps small businesses build and operate websites, forecast solid growth this year, but slightly lowered its revenue outlook citing greater uncertainty for the second half of 2021 related to the coronavirus pandemic.
Website users
The Israel-based Wix reported on Wednesday a quarterly net loss of 28 cents per share excluding special items, with revenue up 34 percent at $316 million. Wix reported a 26 cent loss a year ago.

The Nasdaq-listed company forecast third quarter revenue of $311-$317 million. Wix lowered its full-year revenue outlook to $1.255- $1.27 billion from $1.28-$1.29 billion, below $1.29 billion expected by analysts, but still targeting revenue growth close to 30 percent reached in 2020.

Wix said it could reach the high end of the range with more new users and conversions to subscriptions, while the low end reflected a scenario with fewer new user additions and some planned partnerships failing to close this year.

Wix said that printing and marketing firm Vistaprint chose Wix to create and management its websites and related products. The deal would add hundreds of thousands of premium subscriptions. Wix had 5.5 million premium subscriptions at the end of 2020.

Related News

Latest News

Latest News