Compared to Estimates, Wix.com (WIX) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Wix.com (WIX) reported revenue of $393.84 million, up 13.9% over the same period last year. EPS came in at $1.10, compared to $0.06 in the year-ago quarter.
The reported revenue represents a surprise of +1.11% over the Zacks Consensus Estimate of $389.51 million. With the consensus EPS estimate being $0.77, the EPS surprise was +42.86%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Wix.com performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Collections (Bookings): $389.10 million versus the four-analyst average estimate of $395.22 million.
Creative Subscriptions ARR: $1181629 thousand versus the four-analyst average estimate of $1184027 thousand.
Total Bookings - Creative Subscription: $283.92 million versus the three-analyst average estimate of $293 million.
Total Bookings - Business Solutions: $105.18 million versus the three-analyst average estimate of $101.96 million.
Revenues- Business Solutions: $103.21 million compared to the $99.81 million average estimate based on seven analysts.
Revenues- Creative Subscription: $290.63 million versus $290.75 million estimated by seven analysts on average.
Non-GAAP Gross Profit- Business Solutions: $28.98 million versus the seven-analyst average estimate of $28.08 million.
Non-GAAP Gross Profit- Creative Subscriptions: $240.12 million versus the seven-analyst average estimate of $240.21 million.
View all Key Company Metrics for Wix.com here>>>
Shares of Wix.com have returned +4.7% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Wix.com Ltd. (WIX) : Free Stock Analysis Report
