Wix Beats Analyst Consensus on Quarterly, Annual Revenues

Website building company Wix.com Ltd. closed 3.48% up on Nasdaq Tuesday after beating the analyst consensus on both its annual and fourth quarter revenues for the fiscal year 2018. The company reported annual revenues of $603.7 million, above its previous outlook and the average target of $601.51 million, and quarterly revenues of $164.2 million, above the consensus of $161.99 million.

GAAP net loss for 2018 was $37.1 million, making for GAAP loss per share of $0.77, or adjusted EPS of $1.07, compared to an analyst consensus of $0.91. GAAP net loss for the fourth quarter was $5.8 million, a GAAP loss per share of $0.12, or adjusted EPS of $0.42, beating the consensus of $0.32.

Wix is forecasting revenues of $172 million to $173 million for the first quarter of 2019, lower than the average analyst estimate of $176.42 million, and full-year revenues of $755 million to $761 million.