Wix.com Q2 Results Top Estimates; Updates FY Outlook

(RTTNews) - Wix.com Ltd. (WIX) reported that its second quarter net income rose to $39.52 million or $0.71 per share from $33.58 million or $0.59 per share in the same quarter last year.

Non GAAP net income per share was $1.67 up from $1.26 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.35 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the second quarter grew to $435.75 million from $389.98 million in the prior year. Analysts expected revenue of $433.81 million for the quarter.

The company expects total revenue growth in the third quarter of 2024 of $440 million - $445 million, or 12-13% year-over-year growth.

The company updated its full year bookings outlook to $1.802 billion - $1.822 billion, or 13%-14% year-over-year growth, compared to previous guidance of $1.796 billion - $1.826 billion, or 12%-14% year-over-year growth.

The company also updated its full year revenue outlook to $1.747 billion - $1.761 billion, or 12%-13% year-over-year, compared to $1.738 billion - $1.761 billion or 11%-13% year-over-year growth, previously.

Bookings acceleration in 2024 is expected to translate into year-over-year revenue growth acceleration in 2025.

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