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Why Wix Stock Jumped Higher Today

·1-min read
Why Wix Stock Jumped Higher Today

Shares of Wix.com (NASDAQ: WIX), a website building platform, popped this morning after the company reported better-than-expected top- and bottom-line results. Wix's CEO, Avishai Abrahami, said in a press release that despite the macroeconomic environment, the company is "focused on what is under our control -- driving operational efficiencies to accelerate our path to profitability." Despite the revenue guidance cut, investors were clearly happy with Wix's revenue growth in the quarter and the fact that the company's losses are narrowing.