Shutterstock Earnings: Here’s Why Investors Like These Results
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%.
Shutterstock Earnings Cheat Sheet
Revenue: Rose 39.8% to $56.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Shutterstock reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $54.69 million.
Quoting Management: “We delivered strong results in the second quarter, with 40% revenue growth driven by both new customer additions and expanding usage,” said Founder and CEO Jon Oringer. “We also made good progress solidifying our global footprint, adding both Thai and Korean to our 18 existing language offerings.”
Key Stats (on next page)…