TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Wednesday reported a loss of $39 million in its fourth quarter.
On a per-share basis, the Tel Aviv, Israel-based company said it had a loss of 67 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 61 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The cloud-based web development company posted revenue of $355 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $351.7 million.
For the year, the company reported a loss of $424.9 million, or $7.33 per share. Revenue was reported as $1.39 billion.
For the current quarter ending in March, Wix.com said it expects revenue in the range of $367 million to $371 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WIX at https://www.zacks.com/ap/WIX
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