Why Wix Stock Soared This Past Week
Shares of Wix.com (NASDAQ: WIX) surged more than 20% last week after the website-development platform reported significant progress toward its profitability and cash flow production goals, according to data from S&P Global Market Intelligence.
Wix's revenue rose 8% year over year to $345.8 million in the third quarter, fueled by rising usage of its premium website-building and e-commerce offerings.
Wix's creative subscriptions grew by 8% to $261.1 million. The company's business solutions revenue also increased 8% to $84.7 million, with transaction revenue jumping 12% to $36 million.
Source Fool.com
