Getty Images Q2 revenue falls on Agency and iStock segment pressure; withdraws guidance
Getty Images Q2 revenue falls on Agency and iStock segment pressure; withdraws guidance
Overview
US visual content marketplace's Q2 revenue fell 2.5% yr/yr to $229.1 mln
Adjusted EPS for Q2 was negative, with adjusted EBITDA down 8.4% yr/yr
Company withdrew financial guidance amid review of strategic financing alternatives
Outlook
Getty Images has withdrawn financial guidance due to ongoing evaluation of strategic financing alternatives
Result Drivers
AGENCY AND ISTOCK HEADWINDS - Co said continued pressure in Agency and iStock e-commerce segments weighed on results
ENTERPRISE RESILIENCE - Co said enterprise customer segment showed resilience and growth despite broader revenue decline
SHIFT TO SUBSCRIPTIONS - Annual subscription revenue grew to 58.8% of total, up from 53.5% a year ago
Company press release: ID:nGNX2KX3d3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $229.1 mln | $237.29 mln (2 Analysts) |
Q2 Adjusted EPS |
| -$0.05 | $0.02 (2 Analysts) |
Q2 Net Loss |
| $85.8 mln |
|
Q2 Adjusted EBITDA |
| $62.3 mln | $70.95 mln (2 Analysts) |
Q2 Adjusted EBITDA Margin |
| 27.2% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Getty Images Holdings Inc is $3.93, about 798.6% above its August 7 closing price of $0.44
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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