Wix.Com For FY23 Raised Its Revenue Guidance To $1.558B-$1.563B (Prior $1.543B-$1.558B) Vs. Consensus Of $1.56B; For 4Q23 Expects Revenue Of $400M-$405M (~13-14% Growth YoY) Vs. Consensus Of $299.28M
Portfolio Pulse from Benzinga Newsdesk
Wix.com has raised its FY23 revenue guidance to $1.558B-$1.563B, up from the previous $1.543B-$1.558B, and above the consensus of $1.56B. The company expects 4Q23 revenue to be $400M-$405M, representing a 13-14% YoY growth, significantly higher than the consensus of $299.28M. Wix.com also anticipates positive GAAP net income for the full year 2023 and 2024, and has increased its outlook for free cash flow to $235-$240 million.
November 09, 2023 | 7:31 am
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Wix.com's raised revenue guidance and expected positive GAAP net income for 2023 and 2024 indicate strong financial performance. The company's increased outlook for free cash flow also suggests improved operational efficiency.
Wix.com's raised revenue guidance and expected positive GAAP net income for 2023 and 2024 indicate strong financial performance, which is likely to boost investor confidence and potentially drive the stock price up in the short term. The company's increased outlook for free cash flow also suggests improved operational efficiency, which is a positive signal for investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100