UPDATE: Shutterstock (SSTK) Misses Q2 EPS by 12c, Trims FY Outlook
(Updated - August 2, 2017 7:09 AM EDT)
Shutterstock (NYSE: SSTK) reported Q2 EPS of $0.24, $0.12 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $134 million versus the consensus estimate of $137.83 million.
The Company's current expectations for the full year 2017, reduced from those previously announced, are as follows:
- Revenue of $535-545 million, down from $545-560 million
- Income from Operations of $30-40 million, down from $47-52 million
- Adjusted EBITDA of $85-$95 million, down from $105-110 million
- Non-cash equity-based compensation expense of approximately $30 million
- Effective tax rate in mid-30's%
- Capital Expenditures of approximately $45 million, including capitalized labor of approximately $20 million
(Street sees FY Revenue of $552.6 million)
For earnings history and earnings-related data on Shutterstock (SSTK) click here.