Israel's Wix.com swings to second-quarter loss while revenue jumps

Israel’s Wix.com, which helps small businesses build and operate websites, swung to a loss in the second quarter as it ploughed investments into marketing to meet the demands of new customers during the COVID-19 pandemic. The company on Thursday reported a quarterly net loss excluding one-time items of 26 cents per share, compared with a profit of 34 cents per share a year earlier. The result fell short of analyst estimates – according to I/B/E/S data from Refinitiv Wix was expected to earn 24 cents a share ex-items on revenue of $233 million, partly due to a doubling …read more

Source:: Yahoo Finance