Wix Posts Q1 Revenue of $541.2M; Gross Margin Contracts as Bookings Slightly Miss Estimates
Wix reported first-quarter revenue of $541.2 million, representing a 14% year-over-year increase. Adjusted gross margin narrowed to 66% from 69% a year earlier, below analyst expectations. Total bookings reached $585.0 million, a touch under the consensus. The company reaffirmed mid-teens growth guidance for revenue and bookings for both Q2 and ful…