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Wix.com: 2Q Earnings Snapshot

July 24, 2019

TEL AVIV, Israel (AP) _ Wix.com Ltd. (WIX) on Wednesday reported a loss of $16.7 million in its second quarter.

On a per-share basis, the Tel Aviv, Israel-based company said it had a loss of 33 cents. Earnings, adjusted for stock option expense and amortization costs, were 34 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The cloud-based web development company posted revenue of $185.4 million in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $183.8 million.

For the current quarter ending in October, Wix.com said it expects revenue in the range of $196 million to $198 million.

The company expects full-year revenue in the range of $761 million to $765 million.

Wix.com shares have climbed 62% since the beginning of the year. The stock has increased 34% in the last 12 months.

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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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