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WIX benefits from the increasing adoption of its product portfolio, especially various AI products and WIX Studio.
Recently, Zacks.com users have been paying close attention to Wix.com (WIX). This makes it worthwhile to examine what the stock has in store.
WIX will aid Moneris in launching an omnichannel solution ??? Moneris Total Commerce?
Website development platform Wix.com Ltd. NASDAQ: WIX helps consumers and businesses create and develop websites in minutes and enable eCommerce transactions.
Wix reported its Q2 FY24 earnings, where revenue and earnings grew 12% and 32% YoY respectively, beating estimates. This was led by strong user acquisition and retention across its Self Creator and Partners business, with the latter growing 29% YoY, from growing adoption of Wix Studio. Meanwhile, the company saw an acceleration in its transaction revenue as it onboarded larger Partners on the platform, while driving adoption of Wix Payments to capture higher GPV flow.
Wix.com Ltd. reported continued growth momentum in Q2, especially in Business Solutions revenues, also raising the 2024 financial guidance slightly. The focus on profitability through more focused marketing hasn't so far slowed growth, but has created space for great operating leverage, already well represented in recent quarters. Wix is still in constant competition against multiple peers, namely Shopify, creating the need for constant R&D investments and continued marketing to sustain growth.
Wix.com Ltd WIX reported non-GAAP diluted earnings per share (EPS) of $1.67 for second-quarter 2024, which exceeded the Zacks Consensus Estimate of $1.32. The company reported EPS of $1.26 in the year-ago quarter.
The headline numbers for Wix.com (WIX) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Wix.com beat second-quarter net profit expectations on Wednesday boosted by price hikes and its artificial intelligence (AI) and Studio products for designing advanced websites.
Wix.com (WIX) came out with quarterly earnings of $1.67 per share, beating the Zacks Consensus Estimate of $1.32 per share. This compares to earnings of $1.26 per share a year ago.