Data: Investing.com; Chart: Axios Visuals

Website builder Wix saw its stock price jump by nearly 7% on Friday after reporting strong earnings, showing that the coronavirus pandemic is increasing demand for its products.

Why it matters: The earnings report shows you can add website building tools to the list of sectors that are seeing benefits from the virus and could indicate a new area of long-term growth.

What they're saying: "The current crisis has magnified the importance of having an online presence like never before," CEO Avishai Abrahami said in a statement.

  • He added that demand "boomed at the beginning of April" (after the quarter closed), with new registered users up 63% to a record 3.2 million during the month and total net premium subscription additions more than tripling.

By the numbers: The company’s stock has risen 65% year to date, outpacing the overall S&P 500's decline of 11.4% and the S&P tech sector's gains of 2%, according to Dow Jones.

  • Total revenue rose 24% year over year to $216 million, but Wix still reported a non-GAAP loss of 1 cent per share (beating Wall Street estimates of -2 cents per share).

What's next: Wix also offered rosy guidance for the second quarter, projecting revenue between $231 million-$233 million, ahead of Wall Street's forecast of $227.5 million, and expects growth in the second half of 2020 to be stronger than previously anticipated.

Go deeper

Bryan Walsh, author of Future
Aug 22, 2020 - Health

Better testing can fight more than the pandemic

Illustration: Eniola Odetunde/Axios

New coronavirus diagnostics could eventually enable near-constant testing — and herald a future where even common infections no longer go undiagnosed.

Why it matters: Rapid testing could be especially important during the winter, when it will become vital to quickly distinguish between an ordinary cold or flu and a new disease like COVID-19.

Updated Oct 7, 2020 - Health

World coronavirus updates

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Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand now has active no coronavirus cases in the community after the final six people linked to the Auckland cluster recovered, the country's Health Ministry confirmed in an email Wednesday.

The big picture: The country's second outbreak won't officially be declared closed until there have been "no new cases for two incubation periods," the ministry said. Auckland will join the rest of NZ in enjoying no domestic restrictions from late Wednesday, Prime Minister Jacinda Ardern said, declaring that NZ had "beat the virus again."

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Axios-Ipsos poll: Federal response has only gotten worse. The swing states where the pandemic is raging.
  2. Health: The coronavirus is starting to crush some hospitals. 13 states set single-day case records last week.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Unrest in Italy as restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.