Wix.com reports 4Q loss

Wix.com reports fourth-quarter loss of $6.2 million

TEL AVIV, Israel (AP) _ Wix.com Ltd. (WIX) on Wednesday reported a loss of $6.2 million in its fourth quarter.

On a per-share basis, the Tel Aviv, Israel-based company said it had a loss of 14 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were 6 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The cloud-based web development company posted revenue of $84.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $81.7 million.

For the year, the company reported that its loss narrowed to $47.2 million, or $1.12 per share. Revenue was reported as $290.1 million.

For the current quarter ending in April, Wix.com said it expects revenue in the range of $89 million to $90 million.

The company expects full-year revenue in the range of $409 million to $411 million.

Wix.com shares have increased 19 percent since the beginning of the year. The stock has more than doubled 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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Keywords: Wix.com, Earnings Report

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