Wix.com: Q4 Earnings Snapshot

TEL AVIV, Israel (AP) — TEL AVIV, Israel (AP) — Wix.com Ltd. (WIX) on Wednesday reported fourth-quarter net income of $3 million.

The Tel Aviv, Israel-based company said it had net income of 5 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.22 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The cloud-based web development company posted revenue of $403.8 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $402.6 million.

For the year, the company reported profit of $33.1 million, or 57 cents per share. Revenue was reported as $1.56 billion.

For the current quarter ending in March, Wix.com said it expects revenue in the range of $415 million to $419 million.

The company expects full-year revenue in the range of $1.73 billion to $1.76 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WIX at https://www.zacks.com/ap/WIX