Shutterstock Earnings: Here’s Why Investors are Buying Shares Now
Shutterstock (NYSE:SSTK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.81%.
Shutterstock Earnings Cheat Sheet
Revenue: Rose 36.01% to $51.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Shutterstock reported adjusted EPS income of $0.18 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $50.3 million.
Quoting Management: “Our first quarter results were very strong, with 36% revenue growth and an expanding profit margin,” said Founder and CEO Jon Oringer. “More importantly, we continue to see more customers choosing Shutterstock for image and footage licensing, while our image and video footage library and contributor base continue to significantly expand.”
Key Stats (on next page)…