Picture of Shutterstock logo

SSTK Shutterstock News Story

0.000.00%
us flag iconLast trade - 00:00
TechnologyAdventurousMid CapContrarian

Brief: Shutterstock Q2 Adjusted EPS USD 1.19

Overview

Shutterstock Q2 revenue rises 21% yr/yr to $267 mln, beating analyst expectations

Adjusted EPS of $1.19 beats analyst expectations, per LSEG data

Net income jumps to $29.4 mln from $3.6 mln, driven by Envato acquisition

Outlook

Shutterstock declines to provide financial guidance amid Getty Images merger

Result Drivers

ENVATO ACQUISITION - Revenue and net income growth driven by the acquisition of Envato, contributing to Content product offering

DATA DEALS - Revenue from Data, Distribution, and Services increased due to timing of data deal revenue recognition

INTEREST EXPENSE - Increase in interest expense due to debt for Envato acquisition, partially offsetting gains

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 RevenueBeat$267 mln$247.40 mln (3 Analysts)
Q2 Adjusted EPSBeat$1.19$1.15 (2 Analysts)
Q2 Net Income$29.40 mln
Q2 Adjusted EBITDABeat$82.20 mln$66.70 mln (3 Analysts)
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "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 Shutterstock Inc is $28.85, about 31.3% above its July 28 closing price of $19.81 Press Release: ID:nPnbdXBFqa (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.)

Recent news on Shutterstock

See all news