Wix.com Ltd.(WIX), an Israeli website builder, on Wednesday reported a net loss for the third quarter, mainly due to higher income tax expenses. However, the company reported a rise in revenue, reflecting a strong demand.
For the three-month period to September 30, the company recorded a net loss of $0.589 million, or $0.01 per share, compared with a profit of $26.778 million, or $0.46 per share, in the same period last year.
Excluding items, earnings stood at $100.197 million, or $1.68 per share, compared with $89.262 million, or $1.50 per share, in 2024.
On average, 13 analysts polled had expected the firm to earn $1.49 per share for the quarter. Analysts' estimates typically exclude special items.
Income before taxes on income was $11.691 million, less than $29.853 million a year ago. Income tax expenses were $12.280 million, higher than $3.075 million in the previous year.
Operating loss stood at $7.371 million as against the prior year's earnings of $25.846 million.
Revenue was $505.194 million, up from $444.673 million last year. The Creative Subscriptions business generated revenue of $356.174 million, compared with $318.825 million in the previous year.
Looking ahead, for the fourth quarter, the company expects revenue of $521 million to $531 million, up 13% to 15% from the same period last year. Analysts, on average, project the company to post revenue of $525.61 million for the final quarter.
For the full year, Wix.com now expects revenue of $1.990 billion to $2 billion, up 13% to 14% from last year. The prior guidance was $1.975 billion to $2 billion, up 12% to 14% from the prior year. Analysts, on average, forecast the company to post revenue of $1.99 billion for the year.
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