Wix.com reports Q3 EPS $1.62, consensus $1.51

Reports Q3 revenue $444.67M, consensus $457.91M. “The continued momentum and accomplishments achieved this year are a testament to our intense focus on best-in-class innovation,” said Avishai Abrahami, Wix Co-founder and CEO. “Our key growth initiatives are firing on all cylinders and increasingly contributing to growth. First, Studio continues to outperform. Bookings growth attributable to Studio subscriptions accelerated meaningfully q/q as a result of new purchase strength and robust renewal activity. 75% of bookings from new Partners came from Studio accounts, an increase from the previous quarter, as more and larger agencies choose Studio for their projects. Additionally, our AI onboarding process, which includes AI Website Builder, has enabled users to build the websites of their dreams more efficiently than ever before – resulting in a 13% uplift in conversion rate according to tests in the most recent Self Creator cohort. We are also beginning to see early benefits from our growing suite of AI business assistants, including better conversion and improved Care efficiency. While these results are impressive, I am most excited for the new products still on the horizon. These upcoming AI-powered innovations are expected to transform the way merchants manage their businesses, reimagine how our users interact with their customers and continue to enhance the content creation experience. Notably, these will be the first AI capabilities to be monetized directly as we believe they will drive immense value for our users.”