RTTNews | Aug 11, 2021 11:39AM EDT

11:39 Wednesday, August 11, 2021 (RTTNews.com) - Shares of website development platform Wix.com Ltd. (WIX) are down 17 percent on Wednesday's trading even as the company turned to profit in the second quarter.

The company posted second-quarter net income of $38.0 million or $0.66 per share, compared to net loss of $57.7 million or $1.06 per share in the year-ago period.

Excluding items, loss was $15.8 million or $0.28 per share, wider than loss of $14.2 million or $0.26 per share in the same period last year.

On average, 14 analysts polled by Thomson Reuters expected the company to post loss of $0.37 per share in the quarter. Analysts' estimates, usually, exclude one-time items. Revenues for the three-month period climbed to $316.4 million from $236.1 million in the prior-year quarter, while analysts were looking for revenues of $311.7 million. Currently at $216.28, the stock has traded between $213.12 and $362.07 during the past 52 weeks.

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