Wix.com Stocks Soars After Q2 Performance, Thanks To AI - What's Going On?
Portfolio Pulse from Anusuya Lahiri
Wix.com Ltd reported Q2 FY23 revenue growth of 13% YoY to $389.98 million, beating the consensus of $381.9 million. Non-GAAP EPS of $1.26 also beat the consensus of $0.54. The company's Creative Subscription revenue increased 11% YoY to $287.1 million, and Business Solutions' revenue rose 18% to $102.9 million. Wix.com generated $47.8 million in operating cash flow and held $832.1 million in cash and equivalents. The company raised its FY23 revenue outlook to $1.543 billion - $1.558 billion.
August 04, 2023 | 1:34 pm
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POSITIVE IMPACT
Wix.com reported strong Q2 FY23 results, beating consensus estimates for both revenue and EPS. The company also raised its FY23 revenue outlook.
Wix.com's strong Q2 FY23 results and raised FY23 revenue outlook are likely to boost investor confidence and could lead to a short-term increase in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100