Wix.com's revenue and profits beat expectations; raises fiscal 2024 outlook

Wix.com Press Launch (Nasdaq: WIX): First-quarter non-GAAP earnings per share have been $1.29 Beat $0.25.
Income was $419.8 million (year-over-year development of 12.2%) Beat $1.95 million.
Gross bookings for the primary quarter of 2024 have been $457.3 million, a rise of 10% yr over yr.
Web money offered by working actions Capital expenditures for the primary quarter of 2024 have been $113.8 million, with capital expenditures totaling $8.1 million and free money circulate of $105.7 million.
Monetary Outlook: The corporate raised its full-year bookings forecast to $1,796 to $1.826 billion, an annual enhance of 12-14%. The midpoint of this up to date outlook is roughly $13 million larger than our earlier midpoint outlook of $1784-$1813 million.
Elevating the outlook for bookings in 2024, annual development in bookings is predicted to speed up to 16% within the second half of the yr, in contrast with the earlier forecast of 15%.
The FCF revenue margin outlook for 2024 has been raised to about 26%, far exceeding the three-year plan. It was beforehand anticipated that the FCF revenue margin goal in 2025 will attain greater than 25%.

Wix.com’s revenue and profits beat expectations; raises fiscal 2024 outlook