Wix past GoDaddy with strong Q2 results

Wix reported financial results for the second quarter ended June 30, 2020. According to the announcement, the total revenue in the second quarter of 2020 was $236.1 million, compared to $185.4 million the year before. In this period, the company added 346,000 net premium subscriptions and reached 5.0 million as of June 30, 2020, a 17% increase over the total number compared to the second quarter of 2019. The company also added 9.3 million registered users.

Market cap of $15 billion

Total collections in the second quarter of 2020 were $265.9 million an increase of 33%. The company also stated that July 2020 results show strong growth continuing in Q3. Avishai Abrahami, Co-founder and CEO of Wix said,

“The trends that began in late March continued throughout the second quarter, driving record-setting results. The need for business owners to move online quickly, communicate with customers, and deliver goods and services has never been more imminent, and the Wix platform continues to provide millions of users with the ability to thrive during these unprecedented times. Our focus remains on the success of our users, and we continue to deliver innovative products and technology, marked this quarter by the public launch of Editor X and our expanded eCommerce offering.”

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