Wix.com (WIX) Q1 Earnings Miss Estimates

Core Viewpoint - Wix.com reported quarterly earnings of $1.55 per share, missing the Zacks Consensus Estimate of$1.66 per share, but showing an increase from $1.29 per share a year ago, indicating a -6.63$473.65 million for the quarter, surpassing the Zacks Consensus Estimate by 0.40% and up from $419.78 million year-over-year [2] Financial Performance - Over the last four quarters, Wix.com has surpassed consensus EPS estimates three times [2] - The company has also topped consensus revenue estimates three times in the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is$1.84 on revenues of $488.2 million, and for the current fiscal year, it is$7.53 on revenues of $1.98 billion [7] Stock Performance - Wix.com shares have declined approximately 15.3% since the beginning of the year, contrasting with the S&P 500's gain of 1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Computers - IT Services industry, to which Wix.com belongs, is currently in the top 37% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Wix.com's stock performance [5]