TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Wednesday reported a loss of $589,000 in its third quarter.
The Tel Aviv, Israel-based company said it had a loss of 1 cent per share. Earnings, adjusted for stock option expense, were $1.68 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.
The cloud-based web development company posted revenue of $505.2 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $502.7 million.
For the current quarter ending in December, Wix.com said it expects revenue in the range of $521 million to $531 million.
The company expects full-year revenue in the range of $1.99 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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