Wix.com reports better than expected loss in Q3

Wix.com, which helps small businesses build and operate websites, reported on Thursday a wider third-quarter loss but said the uncertainty due to the COVID-19 pandemic was diminishing.

The Israeli company reported a less-than-expected quarterly net loss excluding one-time items of 21 cents per share, compared with a loss 14 cents a year earlier. Revenue grew 26% to $321 million.

Analysts had forecast Wix would lose 42 cents a share ex-items on revenue of $315 million, according to I/B/E/S data from Refinitiv.

The company said it expects fourth-quarter revenue of $324-$333 million.

It also raised its full-year revenue guidance to $1.265- $1.274 billion from a previous guidance of $1.255-$1.270 billion but trimmed its free cash flow estimate to $45-$50 million from $60-$65 million due to the strong shekel versus the dollar that has “become a more significant headwind to our operating expenses.”