TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Wednesday reported a loss of $57.5 million in its first quarter.
The Tel Aviv, Israel-based company said it had a loss of $1.02 per share. Earnings, adjusted for stock option expense, came to 68 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The cloud-based web development company posted revenue of $541.2 million in the period, also missing Street forecasts. Seven analysts surveyed by Zacks expected $543.8 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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