May 9, 2018 / 6:08 AM / in a year

Israel's Q1 revenue up 49 pct, raises 2018 outlook

TEL AVIV, May 9 (Reuters) -, which helps small businesses build and operate websites, posted a smaller-than-expected loss in the first quarter and raised its revenue forecast for 2018.

It posted on Wednesday a quarterly loss of 5 cents a share excluding one-time items, compared with a loss of 18 cents a year earlier. Revenue grew 49 percent to $137.8 million.

Analysts had forecast an adjusted loss of 10 cents per share on revenue of $135.8 million, according to Thomson Reuters I/B/E/S.

Israel-based Wix offers free basic features for setting up websites but users must pay for extra services such as shopping carts, individual web addresses and site traffic analysis.

Wix projects 2018 revenue of $594-$597 million, up from a previous estimate of $591-$595 million for a 40 percent gain from 2017. Analysts were forecasting 2018 revenue of $594 million.

For the second quarter it estimates revenue of $144-$145 million, up 39-40 percent from a year earlier. (Reporting by Tova Cohen; Editing by Steven Scheer)

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