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.
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
Keywords: Wix.com, Earnings Report