Wix surprises Wall Street with strong Q2 earnings
Shares climb after profit beats expectations by wide margin; full-year forecast raised.
Wix shares jumped in premarket trading in New York after the Israeli website-building company posted second-quarter results that exceeded market expectations, particularly in earnings. The company’s market capitalization now stands at over $7 billion.
Revenue for the second quarter totaled $489.8 million, representing a 12% increase year-over-year, following a 13% growth rate in the first quarter. Analysts had expected revenue of $487 million.
Wix reported an adjusted profit of $136.2 million, or $2.44 per share, far surpassing analysts' expectations of $1.76 per share.
Customer bookings rose 11% year-over-year to $509.9 million. In light of the improvement, Wix raised its full-year guidance for both bookings and revenue.
Related articles:
The company now expects 2025 bookings to range between $2.040 billion and $2.075 billion, up from its prior forecast of $2.025 billion to $2.060 billion.
Wix also revised its annual revenue forecast slightly upward at the low end, projecting between $1.975 billion and $2.00 billion, compared to its previous estimate of $1.970 billion to $2.00 billion.
