TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Wednesday reported fourth-quarter net income of $48 million.
On a per-share basis, the Tel Aviv, Israel-based company said it had profit of 80 cents. Earnings, adjusted for stock option expense and non-recurring costs, were $1.93 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The cloud-based web development company posted revenue of $460.5 million in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $461.3 million.
For the year, the company reported profit of $138.3 million, or $2.36 per share. Revenue was reported as $1.76 billion.
For the current quarter ending in March, Wix.com said it expects revenue in the range of $469 million to $473 million.
The company expects full-year revenue in the range of $1.97 billion to $2 billion.
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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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