Wix.com Posts Wider Loss For Q4, Misses Estimates

(RTTNews) - Wix.com Ltd. (WIX), an Israeli software company, on Wednesday posted an increase in its losses for the fourth quarter of the fiscal 2021, amidst Covid-19 induced volatile market conditions and higher operating expenses. Excluding items, the company's loss missed the Street view.

For the fourth quarter ended in December 2021, the Tel Aviv-Yafo-headquartered firm posted a loss of $111.01 million or $1.94 per share, compared with $11.42 million or $0.20 per share, reported for the same period a year ago.

The company's adjusted loss was reported at $21.11 million or $0.37 per share as against $1.63 million or $0.03 per share. Fifteen analysts, on average, polled by Thomson-Reuters were estimating the firm to report loss per share at $0.38. Analysts' estimates typically exclude one-time items.

For the December quarter, the operating loss of the cloud-based web development services firm moved up to $98.27 million, from $55.46 million, recorded for the final quarter of 2020.

The total operating expense of the company registered at $297.81 million, versus $234.68 million.

Wix.com generated its revenue for the three-month period at $328.34 million, compared with $282.53 million, year-on-year basis. Analysts', on average, had expected the firm to post a revenue of $331.16 million.

Looking ahead, for the first quarter of the fiscal 2022, the company expects its revenue to be in the range of $338 million - $343 million, representing a year-over-year growth of 11 percent to 13 percent.

Fort the three-month period to March 2022, analysts', on average, project the company to report revenue of $355.3 million.