Israeli Web Development Platform Vik.com Ltd. (Naslik: VIKS) published financial results for the third quarter of 2018.
Revenues in the third quarter of 2018 amounted to $ 155.6 million, up 40% from the same quarter last year. The net loss on GAAP in the third quarter of 2018 was $ 5.9 million ($ 0.12 per share) compared to a net loss of $ 14.5 million ($ 0.32 per share) in the third quarter of 2017. years. The GAAP net profit in the third quarter of 2018 was $ 18.8 million ($ 0.39 per share) compared to non-GAAP net profit of $ 0.4 million ($ 0.01 per share ) for the third quarter of 2017.
The coefficient and executive director of the company, Vik Avishai Abrahami, said: "Our strong third quarter results show that we are continuing to develop our best-in-class production experience on Vik. more value – we recently introduced Vik Paiments, as well as improvements to the Vik Code and the new Vik Video Maker, and we started to release the new DeviantArt Platform to our community. We also plan to release a new product in December, which will increasing how small businesses are managed and developing online. With these new products and performance we have seen so far, we look forward to continuing our momentum in 2019. "
Vik also provided initial outcomes for the fourth quarter of 2018 and updated his year for a full year. Vik saw an income of $ 161-162 million in the fourth quarter of 2018, which is 36-37% compared to the same quarter of 2017, in line with analysts' expectations. The company also revised its annual revenue estimates to $ 601-602 million compared to a previous estimate of $ 597-599 million.
Vik's share price was 5.5% in pre-market trading at Nasdak, after entering 3.06% yesterday to 91.31 dollars, giving a market cap of $ 4.451 billion. Vika's share price dropped from a maximum of $ 120 two months ago.
Posted by Globes, Israeli Business News – en.globes.co.il – November 14, 2018
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