November 14, 2019 / 7:11 AM / a month ago

Israel's Wix.com Q3 profit up, trims 2019 revenue outlook

TEL AVIV, Nov 14 (Reuters) - Wix.com, which helps small businesses build and operate websites, reported higher profit and revenue in the third quarter but slightly lowered the upper range of its full year revenue forecast.

It reported on Thursday quarterly net profit of 41 cents a share excluding one-time items, compared with 39 cents a year earlier. Revenue grew 26% to $196.8 million.

Israel-based Wix offers free basic features for setting up websites but users must pay for extra services such as shopping carts, individual web addresses and site traffic analysis.

Wix now sees revenue of $761-$763 million compared with a previous forecast of $761-$765 million. This is up 26% from 2018 and includes foreign currency changes since the company’s last outlook in July.

For the fourth quarter it estimates revenue of $204-$206 million, up 24-25% from a year earlier. (Reporting by Tova Cohen Editing by Steven Scheer)

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