New AI products from Wix are driving adoption from users who are consequently spending more than expected. Higher spending plus operational discipline means that the company's cash flow is far improved from last year.
Israeli website creator Wix (NASDAQ: WIX ) beat earnings estimates, sending WIX stock up 20%. Wix earned $24 million, 41 cents per share fully diluted, on revenue of almost $420 million during the quarter.
It is not too yet too late to build a position in Wix.com Ltd (NASDAQ: WIX), says Mark Zgutowicz – a Benchmark analyst. Wix stock could climb further to $175 Wix stock is up 10% this morning after beating Street estimates in its fiscal first quarter.
Wix.com , which helps small businesses build and operate websites, reported on Monday a higher-than-expected rise in quarterly net profit, boosted by its new artificial intelligence (AI) and Studio products for designing advanced websites.
WIX unveils new AI-based tools to assist customers in streamlining the process of creating and managing their online presence.
WIX's Q1 performance is likely to have benefited from momentum in Partners' revenues, which is witnessing higher monetization driven by the strong adoption of WIX Studio.