Shutterfly: 2Q Earnings Snapshot
REDWOOD CITY, Calif. (AP) _ Shutterfly Inc. (SFLY) on Wednesday reported a loss of $12.7 million in its second quarter.
The Redwood City, California-based company said it had a loss of 37 cents per share. Losses, adjusted for restructuring costs and non-recurring costs, came to 23 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 23 cents per share.
The online photo company posted revenue of $473.4 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $475.1 million.
Shutterfly shares have increased 26% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $50.77, a drop of 39% in the last 12 months.