Why Israeli Software Company Wix.com's Shares Are Rising Today
Portfolio Pulse from Lekha Gupta
Wix.com Ltd's shares are up by 7% following its Q3 FY23 results. The company reported a 14% Y/Y revenue growth to $393.8 million, beating the consensus of $389.7 million. The growth was led by the third consecutive quarter of Partners revenue growth (+38% Y/Y), strong GPV growth, and improved performance in the new cohorts of users. The company also raised its FY23 revenue outlook to $1.558 billion-$1.563 billion from $1.543 billion - $1.558 billion vs. the consensus of $1.56 billion.
November 09, 2023 | 10:47 am
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Wix.com's Q3 FY23 results beat consensus with a 14% Y/Y revenue growth. The company also raised its FY23 revenue outlook, which could positively impact its stock price.
Wix.com's Q3 FY23 results exceeded expectations, with a 14% Y/Y revenue growth. This positive financial performance, coupled with the raised FY23 revenue outlook, indicates a strong financial position and potential for growth, which could attract investors and drive up the stock price.
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