DIY website builder, Wix.com profit beats estimates

wix.com

Israeli startup that provides a cloud-based do-it-yourself website builder, Wix.com said its second-quarter profit beat estimates.

The Israeli startup that provides a free website builder and charges extra fees for eCommerce integration and web analytics said also raised its full-year profit forecast.

Total revenue for the period rose to $185.4 million, a 27% growth on a year on year basis.

According to data compiled by Reuters, the company said its 2019 revenue forecast has now been upgraded to $761-$765 million from a previous forecast of $758-$763 million.

The update is an upward review of 26-27% from 2018.

For the third quarter, Wix.com said it estimated revenue of $196-$198 million which is up by 26-27% from a year earlier.