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Why Wix Stock Jumped Today

TheMotleyFool

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Shares of Wix (NASDAQ: WIX) have jumped today, up by 9% as of 12:45 p.m. EDT, after the company reported first-quarter earnings. The COVID-19 pandemic is increasing demand for Wix's website-building tools.

Revenue in the first quarter rose 24% to $216 million, mostly in line with the consensus estimate of $216.2 million. On a constant currency basis, revenue would have been $217.5 million. That led to an adjusted net loss of $400,000, or $0.01 per share, which was better than the $0.03 per share in adjusted net losses that analysts were expecting.

Image source: Getty Images.

Source Fool.com

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