Why Wix.com (WIX) Stock Is Declining Today

NEW YORK (TheStreet) --Shares of Wix.com Ltd (WIX) are down -3.21% to $16.87 on Tuesday after the company posted a 2014 first quarter GAAP net loss of -$14.9 million, or 40 cents per share, compared to a net loss of -$4.9 million, or 83 cents per share from the first quarter 2013.

The web develop platform reported a non-GAAP net loss of -$11.3 million, or 30 cents per share versus a loss of -$4.4 million, or 76 cents per share for the same period last year.

Wix.com's adjusted EBITDA for the most recent quarter was -$10.7 million, compared to -$4.2 million for the year ago quarter.

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The company said revenue grew 86% to $28.8 million, from $15.5 million for the 2013 first quarter.

 WIX ChartWIX data by YCharts

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