Website creator Wix.com second-quarter profit beats estimates

Wix.com, which helps small businesses build and operate websites, swung to a net profit in the second quarter that was more than double forecasts, boosted by double-digit revenue growth.

The Israeli company said on Thursday it had earned $1.38 per share, excluding one-time items in the April-June period, compared with a loss of 14 cents per share a year earlier. Revenue grew 13% to $390 million.

Wix was forecast to earn 60 cents excluding one-time items, on revenue of $383 million, according to Refinitiv I/B/E/S data.


It projected third-quarter revenue of $386 million to $391 million representing annual growth of as much as 13%.

Citing an "outperformance in Q2," Wix raised its full-year 2023 revenue estimate to $1.543 billion to $1.558 billion - growth of 11-12% - from $1.522 billion to $1.543 billion.