US Markets
WIX

Israel's Wix.com swings to Q2 loss while revenue jumps

Credit: REUTERS/AMIR COHEN

Wix.com, which helps small businesses build and operate websites, swung to a loss in the second quarter though revenue jumped as customers rushed to move their operations online.

JERUSALEM, Aug 6 (Reuters) - Wix.com WIX.O, which helps small businesses build and operate websites, swung to a loss in the second quarter though revenue jumped as customers rushed to move their operations online.

The Israeli company on Thursday reported a quarterly net loss excluding one-time items of 26 cents per share, compared with a profit of 34 cents per share a year earlier. Revenue grew 27% to $236 million.

Analysts had forecast Wix would earn 24 cents a share ex-items on revenue of $233 million, according to I/B/E/S data from Refinitiv.

For the third quarter Wix estimated revenue of $247-$250 million, up 26%-27% from a year earlier. Analysts are forecasting Wix will post revenue of $249.5 million in the third quarter.

(Reporting by Ari Rabinovitch; Editing by Tova Cohen)

((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

WIX

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More