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TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Wednesday reported first-quarter profit of $33.8 million.
On a per-share basis, the Tel Aviv, Israel-based company said it had net income of 57 cents. Earnings, adjusted for one-time gains and costs, were $1.55 per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The cloud-based web development company posted revenue of $473.7 million in the period, which beat Street forecasts. Nine analysts surveyed by Zacks expected $471.8 million.
For the current quarter ending in June, Wix.com said it expects revenue in the range of $485 million to $489 million.
The company expects full-year revenue in the range of $1.97 billion to $2 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WIX at https://www.zacks.com/ap/WIX