Wix.com Ltd is a cloud-based web development platform that enables users to create, design, and manage their own websites without needing extensive technical skills
It offers a range of customizable templates and a user-friendly drag-and-drop interface, making it accessible for individuals and businesses of all sizes. Wix provides various features, including e-commerce tools, marketing solutions, SEO optimization, and integrated applications, allowing users to build a professional online presence tailored to their specific needs. The platform empowers users to showcase their work, sell products, and engage with their audience effectively.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at GoDaddy (NYSEGDDY) and the best and worst performers in the e-commerce software industry.
The past six months have been a windfall for Wix’s shareholders. The company’s stock price has jumped 43.9%, hitting $223.74 per share. This was partly due to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how sales and marketing software stocks fared in Q3, starting with Yext (NYSEYEXT).
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Braze (NASDAQBRZE) and its peers.
Shares of website design and e-commerce platform provider Wix.com (NASDAQWIX)
jumped 15% in the morning session after the company reported impressive third-quarter results. While revenue was in line with analysts' expectations, its EPS and adjusted operating income beat Wall Street's estimates. The top line was driven by accelerating growth in Wix's Self Creators and Partners businesses, including a 30% surge in Partners revenue due to increased adoption of its Studio platform. The company also highlighted the AI Website Builder, which boosted conversion rates. The planned monetization of new AI tools also strengthened the growth narrative.
Looking ahead, Wix provided revenue guidance for the next quarter that slightly topped analysts' expectations. Zooming out, we think this was a decent quarter featuring some areas of strength.
Shares of website design and e-commerce platform provider Wix.com (NASDAQWIX)
jumped 15% in the morning session after the company reported impressive third-quarter results. While revenue was in line with analysts' expectations, its EPS and adjusted operating income beat Wall Street's estimates. The top line was driven by accelerating growth in Wix's Self Creators and Partners businesses, including a 30% surge in Partners revenue due to increased adoption of its Studio platform. The company also highlighted the AI Website Builder, which boosted conversion rates. The planned monetization of new AI tools also strengthened the growth narrative.
Looking ahead, Wix provided revenue guidance for the next quarter that slightly topped analysts' expectations. Zooming out, we think this was a decent quarter featuring some areas of strength.
Website design and e-commerce platform provider Wix.com (NASDAQWIX) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 12.9% year on year to $444.7 million. The company expects next quarter’s revenue to be around $460.5 million, coming in 0.7% above analysts’ estimates. Its non-GAAP profit of $1.50 per share was 5% above analysts’ consensus estimates.
