Wix.com: Q3 Earnings Snapshot

Associated Press Finance
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TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Thursday reported third-quarter net income of $7 million.

The Tel Aviv, Israel-based company said it had profit of 12 cents per share. Earnings, adjusted for stock option expense, were $1.10 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The cloud-based web development company posted revenue of $393.8 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $389.5 million.

For the current quarter ending in December, Wix.com said it expects revenue in the range of $400 million to $405 million.

The company expects full-year revenue of $1.56 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WIX at https://www.zacks.com/ap/WIX

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