12:33 p.m. May 31, 2023 | Read in 2 minutes
Wix.com Ltd (NASDAQ:WIX) Executive Chairman Mark Tolshchu In an interview with Benzinga, he shared insights on the company’s performance, growth strategy and how it embraces artificial intelligence (AI).
The topic comes on the heels of Wix’s first quarter results, which were announced on May 17. The Tel Aviv-based company reported a profit of 91 cents, beating market expectations of 14 cents, on revenue of $374.1 million, beating consensus expectations of $369.4 million. .
According to Benzinga Pro, Wicks expects second-quarter revenue to rise 12% year-over-year to about $385 million, beating consensus of $377.46 million.
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Wix also raised its 2023 revenue outlook to about $1.543 billion. That increased to $1.535 billion from the previous forecast of $1.51 billion.
Check out the analyst ratings for the company here.
“We are the only place to create an identity online,” Torszcz says. “Today, there are 250 million of his websites powered by Wix, both small businesses and large corporations.”
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The company has grown more than 35% year-on-year over the past decade, Torszcz said.
“We are a great product company that makes it easy for anyone to use and build websites,” he told Benzinga.
Role of AI
Tluszcz touts Wix as one of the pioneers of AI as an emerging technology.
“We think of ourselves as the original AI company. We launched Wix adi in 2016. It was, you know, advanced digital intelligence,” he said. say.
The company currently runs about 200 AI models within its product stack, ranging from user-facing front-end to back-end tasks.
The next product to come is “Wix Headless”. This makes his Wix backend product available to people using various frontends and fundamentally opens up the platform to external users.
WIX Price Action: Wicks shares are trading at $75.23, up 0.4%, according to Benzinga Pro.
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