Shutterstock: 2Q Earnings Snapshot
NEW YORK (AP) _ Shutterstock Inc. (SSTK) on Wednesday reported a second-quarter loss of $254,000, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 1 cent per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 30 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The online marketplace for royalty-free images and videos posted revenue of $156.6 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $156.4 million.
Shutterstock expects full-year revenue in the range of $625 million to $635 million.
Shutterstock shares have risen 7 percent since the beginning of the year. The stock has increased slightly more than 9 percent in the last 12 months.