Wix, a developer of website building software, has released its Q2 report. Q2 sales were $343 million, which is 29 percent more than in the same period last year. However, for the first time in almost two years, the quarterly figure was lower than the previous one, down from $351 million in Q1, Domain Name Wire reports.
Company representatives say the slowdown is due to the uncertainty of the COVID-19 pandemic. Domain businesses, as well as webhosting and site builder companies, have benefited from the lockdown measures, because companies rushed to move their businesses online. However, in the second quarter of 2021, these restrictions were eased in many countries, including the US. Many small and medium-sized companies started getting back to business as usual, and demand for domains, websites and creation tools dropped. Wix lowered guidance for the remainder of the year, while shares dropped 15 percent as of August 11.
