Wix.com Posts Narrower-Than-Expected Q3 Loss, Raises Revenue Outlook

Israel's Wix.com

posted a narrower-than-expected loss for the third quarter and raised its 2014 revenue forecast. Wix posted a quarterly loss, excluding one-off items, of $0.24 per share, versus a year-ago loss of $0.87 per share. Its revenue climbed 75% to $37.5 million. However, analysts were projecting a loss of $0.32 per share on revenue of $35.7 million. Collections rose 70% to $44.6 million from $26.2 million. As of Sept. 30, the company had 54.1 million registered users. For the third quarter, Wix added 106,000 premium paid subscriptions to reach a total of 1.125 million, a 59% gain versus the prior year. Wix now expects full-year revenue of $139 to $140 million, versus a prior forecast of $136 to $138 million. It also expects Q4 revenue of $39 to $40 million. "Once again, the tremendous growth that we were able to achieve surpassed our expectations for the quarter," said Avishai Abrahami, CEO and Co-Founder of Wix. "In the past year, we were able to take the Wix platform to new heights and give our users a rich menu of significant new tools to manage their business online. All of this was made possible by the strength and innovation of our extensive R&D and product teams, and we will continue to push forward." Wix shares fell 0.70% to close at $16.94 yesterday.