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Israel's Wix.com raises 2017 outlook, Q1 loss narrows

JERUSALEM May 10 Wix.com, which helps small businesses build and operate websites, reported on Wednesday a jump in revenue and a narrower loss for the first quarter, and raised its outlook for 2017.

It reported a quarterly loss of 18 cents a share excluding one-time items, compared to a 30 cents per share loss a year earlier. Revenue grew 50 percent to $92.5 million.

It was forecast to lose 14 cents a share excluding items on revenue of $90.1 million, according to Thomson Reuters I/B/E/S.

Israel-based Wix offers free basic features for setting up websites but users must pay for extra services such as shopping carts, individual web addresses and site traffic analysis.

During the quarter it added 5.9 million registered users for a total of 103 million. Of that, it added 208,000 paid subscribers to reach 2.7 million.

Wix raised its 2017 revenue outlook to $421-$423 million, from an estimate of $417-419 million for a rise of 45-46 percent on the year.

For the second quarter its expects revenue of $101-102 million, up 47-48 percent. (Reporting by Ari Rabinovitch; editing by Jason Neely)

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