TEL AVIV (Reuters) – Wix.com, which helps small businesses build and operate websites, reported a smaller-than-expected decline in fourth-quarter net profit and forecast a revenue rise of about 25% this year to nearly $1 billion as it expands into the professional web creator market.
The offices website-designer firm Wix.com are shown in Tel Aviv, Israel July 4, 2016. Picture taken July 4, 2016. REUTERS/Baz Ratner/File Photo
Israel-based Wix reported on Thursday a quarterly net profit of 39 cents a share excluding one-time items (adjusted EPS), compared with 42 cents a year earlier. Revenue grew 19% to $204.6 million.
Analysts were forecasting adjusted EPS of 31 cents on revenue of $205.6 million, according I/B/E/S data from Refinitiv.
Wix offers free basic features for setting up websites but users must pay for extra services such as shopping carts, individual web addresses and site traffic analysis.
The company added a net 89,000 premium subscribers in the October-December period…
Source Reuters Tech News
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