February 14, 2018 / 7:38 AM / 6 months ago

Israel's Wix.com Q4 revenue rises, sees 40 pct growth in 2018

TEL AVIV, Feb 14 (Reuters) - Wix.com, which helps small businesses build and operate websites, posted higher adjusted profit in the fourth quarter and forecast 40 percent revenue growth in 2018.

It posted on Wednesday quarterly profit of 16 cents a share excluding one-time items, compared with 7 cents a year earlier. Revenue grew 41 percent to $118.5 million.

Analysts had forecast adjusted EPS of 16 cents on revenue of $117 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.

Wix projects 2018 revenue of $591-$595 million, up 39-40 percent from 2017 and free cash flow of $98-$100 million, up 39-41 percent. Analysts were forecasting 2018 revenue of $557 million.

For the first quarter it estimates revenue of $135-$136 million, up 46-47 percent from a year earlier.

The company also said it expanded its strategic partnership with Google Cloud, choosing G Suite as the exclusive provider of business productivity applications on its platform. (Reporting by Tova Cohen; Editing by Steven Scheer)

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