TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Wednesday reported a loss of $40.2 million in its fourth quarter.
On a per-share basis, the Tel Aviv, Israel-based company said it had a loss of 73 cents. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, came to $1.81 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.
The cloud-based web development company posted revenue of $524.3 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $528 million.
For the year, the company reported profit of $50.6 million, or 88 cents per share. Revenue was reported as $1.99 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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