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Wix.com's Q1 Loss Widens, Revenue Grows; Updates 2021 Outlook

05/11/2021 23:55

03:43 AM EDT, 05/12/2021 (MT Newswires) -- Wix.com (WIX) posted a Q1 adjusted loss of $0.54 per basic share, compared with a loss of $0.01 per share a year earlier.

Analysts polled by Capital IQ projected an adjusted loss of $0.64 per share.

Revenue was $304.1 million for the quarter ended March 31, up from $216 million a year ago. The Street forecast was $295.2 million.

Looking ahead, the company said it expects Q2 revenue of $308 million to $312 million, compared with the Street forecast of $312.2 million.

For full-year 2021, revenue is projected at $1.28 billion to $1.29 billion, compared with the prior outlook of $1.272 billion to $1.286 billion. Analysts polled by Capital IQ have projected revenue of $1.28 billion.

Shares of the web development company were up more than 3% during the aftermarket trading hours on Tuesday.

Price: 289.90, Change: +8.31, Percent Change: +2.95