Company upgrades outlook for the rest of the year after topping its own forecast for Q2.
Website builder Wix (NASDAQ: WIX) reported earnings today and raised its financial outlook for the rest of the year.
For the second quarter of 2019, Wix reported 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 company 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; about 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 customers. That might be because it eliminated its least expensive plan, which let customers connect a domain name to a site for $5 a month. The cheapest plan is now $13 a month