Wix.com Ltd (NASDAQ:WIX) shares are trading flat Monday after the company announced mixed financial results and issued guidance below analyst estimates.
Wix said first-quarter revenue grew 14% year-over-year to $341.6 million, which beat the $340.55-million estimate. The company reported a quarterly loss of 72 cents per share, which missed the estimate for a loss of 64 cents per share.
"We are focused on prudent cost management and driving operational efficiencies, from which we are already beginning to see results, and are instating a plan to achieve 20% FCF margins by 2025," said Lior Shemesh, CFO of Wix.
Wix said it expects second-quarter revenue to be between $342 million and $346 million versus the $356.19-million estimate. Full-year 2022 revenue is expected to be between $1.4 billion and $1.44 billion versus the $1.45 billion-estimate.
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WIX 52-Week Range: $56.24 - $309.00
The stock was down 0.48% at $70.85 at press time, according to data from Benzinga Pro.
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