Wix.com Posts Wider Loss For Q4, Misses Estimates

Wix.com Ltd. (WIX), an Israeli software company, on Wednesday posted an increase in its losses for the fourth quarter of the fiscal 2021, amidst Covid-19 induced volatile market conditions and higher operating expenses. Excluding items, the company’s loss missed the Street view.

For the fourth quarter ended in December 2021, the Tel Aviv-Yafo-headquartered firm posted a loss of $111.01 million or $1.94 per share, compared with $11.42 million or $0.20 per share, reported for the same period a year ago.

The company’s adjusted loss was reported at $21.11 million or $0.37 per share as against $1.63 million or $0.03 per share. Fifteen analysts, on average, polled by Thomson-Reuters were estimating the firm to report loss per share at $0.38. Analysts’ estimates typically exclude one-time items.

For the December quarter, the operating loss of the cloud-based web development services firm moved up to $98.27 million, from $55.46 million, recorded for the final quarter of 2020.

The total operating expense of the company registered at $297.81 million, versus $234.68 million.

Wix.com generated its revenue for the three-month period at $328.34 million, compared with $282.53 million, year-on-year basis.

Analysts’, on average, had expected the firm to post a revenue of $331.16 million.

Looking ahead, for the first quarter of the fiscal 2022, the company expects its revenue to be in the range of $338 million – $343 million, representing a year-over-year growth of 11 percent to 13 percent.

Fort the three-month period to March 2022, analysts’, on average, project the company to report revenue of $355.3 million.

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