Wix notes Q2 2019 earnings, upgrades outlook

Firm upgrades outlook for the rest of the year following topping its own forecast for Q2.

Website builder Wix (NASDAQ: WIX) noted earnings today and raised its financial outlook for the rest of the year.

For the second quarter of 2019, Wix noted revenue of $185.4 million, above its forecasted range of $182-184 million and up 27% year-over-year. Its collections (which are essentially cash receipts) hit $199.6 million in the quarter, up 25% year-over-year.

The firm added a net 132,000 paying subscribers in the quarter, bringing its total to 4.3 million. It also added 5.7 million registered users. Most registered users use the product for free; regarding 3% are paying users.

The net adds number is well below the 180,000 it added in the first quarter of the year, which is usually a good quarter for people starting websites. But it’s also a lot lower than its results in Q2 of last year when it added a net 205,000 paying clients. That might be since it eliminated its least expensive plan, which let clients connect a domain name to a site for $5 a month. The cheapest plan is now $13 a month

I built Comptroller.com on Wix. You can read regarding my experience here.