Wix.com (WIX) Q1 Earnings Miss Estimates, Revenues Beat (revised)
Zacks Investment Research | May 16, 2019 11:26PM ET
Wix.com Ltd. (NASDAQ:WIX) delivered non-GAAP earnings of 3 cents per share in the first quarter of 2019, missing the Zacks Consensus Estimate by 6 cents. Notably, the company reported a loss of 6 cents in the year-ago quarter.
Total revenues surged 27% year over year to $174.3 million, surpassing the Zacks Consensus Estimate of $172.97 million. The figure also came ahead of management’s guided range of $172-$173 million.
Quarter in Detail
Collections during the reported quarter came in at $200.4 million, up 26% year over year, attributable to expansion of new products and enhancement of existing products. Management had projected collections in the range of $196 million to $197 million.
The company witnessed better-than-expected conversion and retention in its user cohorts. The company added a total of 180,000 net premium subscriptions in the reported quarter, which came in at 4.2 million as of Mar 31, 2019 (up 21% year over year).
Wix added 6.6 million registered users during the reported quarter. Registered users as of Mar 31, 2019 came in at 148 million, up 19% year over year.
During the reported quarter, average revenue per subscription (ARPS) increased 9% year over year. The surge can primarily be attributed to favorable mix of higher priced subscription packages.
Wix.com Ltd. Revenue (Quarterly)
.
Long-term earnings growth rate for Cadence, Verint and j2 Global is pegged at 12%, 11% and 8%, respectively.
(NOTE: We are re-issuing this article to correct a mistake, The original version, published yesterday, May 16, 2019, should no longer be relied on.)
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft (NASDAQ:MSFT) stock in the early days of personal computers… or Motorola (NYSE:MSI) after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” -- and early investors stand to earn the biggest profits.
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.