JERUSALEM : Website builder Wix.com 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 per cent 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 per cent. It expects first-quarter revenue of $469-$473 million, up 13-14 per cent.
In 2024, Wix’s revenue rose 13 per cent 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.
