Israel's fourth-quarter profit, revenue beat estimates

Reuters News
Posted: Feb 15, 2017 5:52 AM

TEL AVIV (Reuters) -, which helps small businesses build and operate websites, reported on Wednesday better than expected earnings in the fourth quarter, as the number of paid subscribers jumped 39 percent.

It posted a quarterly profit of 6 cents a share excluding one-time items, compared with a 13 cent loss a year earlier. Revenue grew 48 percent to $84.2 million.

It was forecast to earn 3 cents a share excluding items on revenue of $81.65 million, according to Thomson Reuters I/B/E/S.

Israel-based Wix offers free basic features for setting up websites but users must pay for extra services such as shopping carts, individual web addresses and site traffic analysis.

During the quarter it added 5 million registered users for a total of 97 million. Of that, it added 171,000 paid subscribers to reach 2.5 million.

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Wix projects 2017 revenue of $409-$411 million, up 41-42 percent from 2016. Revenue in 2016 rose 43 percent.

For the first quarter its sees revenue of $89-$90 million, up 45-46 percent.

(Reporting by Tova Cohen, Editing by Ari Rabinovitch)