Wix.com Ltd. Stock News

Wix reported better earnings results than expected. The company sees artificial intelligence as an opportunity for more growth.

Wix.com Ltd. (NASDAQ:WIX ) Q1 2023 Earnings Conference Call May 17, 2023 8:30 AM ET Company Participants Rona Davis - Head PR & Communications Avishai Abrahami - Chief Executive Officer and Co-Founder

The headline numbers for Wix.com (WIX) give insight into how the company performed in the quarter ended March 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates

Wix.com Ltd  (NASDAQ: WIX) stock is down 2.3% at $79.55 last glance, despite the web development name delivering a top- and bottom-line win.

Stock markets looked poised to recover some of their recent losses on Wednesday morning. Wix.com shares moved higher as the website facilitator lauded its AI efforts.

WIX Q1 performance benefits from strength in the Creative Subscriptions and Business Solutions segments. Cost-cutting efforts lead to significant margin improvement.

Wix.com (WIX) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to loss of $0.72 per share a year ago.

Wix.com , which helps small businesses build and operate websites, on Wednesday said it swung to a net profit in the first quarter, boosted by growth in subscription revenue.

Wix's (WIX) Q1 performance is likely to have benefited from strong bookings growth and an improvement in the user base.

The latest read on inflation sparked a relief rally as investors celebrated signs of improvement. The underlying data showed that inflation, while historically high, had fallen to a two-year low.

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Shopify and Wix are currently battling for eCommerce market share as more retail sales are conducted online. Shopify occupies a dominant position. Profitability for both businesses is mixed. Wix has h