Home » Markets » Small business website creator Wix.com sees 2020 revenue reaching almost $1B
Small business website creator Wix.com sees 2020 revenue reaching almost $1B
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TEL AVIV (Reuters) – Wix.com, which helps small businesses build and operate websites, reported a smaller-than-expected decline in fourth-quarter net profit and forecast a revenue rise of about 25% this year to nearly $1 billion as it expands into the professional web creator market.
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Israel-based Wix reported on Thursday a quarterly net profit of 39 cents a share excluding one-time items (adjusted EPS), compared with 42 cents a year earlier. Revenue grew 19% to $204.6 million.
Analysts were forecasting adjusted EPS of 31 cents on revenue of $205.6 million, according to I/B/E/S data from Refinitiv.
Wix offers free basic features for setting up websites but users must pay for extra services such as shopping carts, individual web addresses and site traffic analysis.
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The company added a net 89,000 premium subscribers in the October-December period to reach 4.5 million paying customers, up 13% over a year earlier. Wix has 165 million registered users, up 16% from 2018.