JERUSALEM, Feb 19 (Reuters) - Website builder Wix.com ( WIX )
beat fourth-quarter net profit expectations on Wednesday
boosted by price hikes and by its artificial intelligence and
Studio products for designing advanced websites, while
forecasting revenue of up to $2 billion in 2025.
The Israeli company's earnings were $1.93 per diluted share,
excluding one-time items, up from $1.22 per share a year
earlier. Revenue for the October-December quarter grew 14% to
$460.5 million.
Analysts expected Wix to earn $1.59 per share, excluding
one-time items on revenue of $461.75 million, LSEG data showed.
Wix forecast 2025 revenue of $1.97-$2.0 billion, for annual
growth of up to 16%. It expects first-quarter revenue of
$469-$473 million, up 13-14%.
In 2024, Wix's revenue rose 13% to $1.76 billion, while
adjusted diluted EPS ex-items rose to $6.39 from $4.39 a share
in 2023.
"With Studio continuing to outperform and AI usage and
conversion benefits ramping, we anticipate these initiatives to
be even bigger growth engines in 2025," it said. Studio is a web
creation platform for professionals and agencies.
Wix said it completed a $200 million share repurchase plan
in January, bringing the total repurchases since August 2023
to$725 million.