Shutterstock (SSTK) Misses Q1 EPS by 16c, Beats on Revenue; Offers FY Guidance

Shutterstock (NYSE: SSTK) reported Q1 EPS of $0.19, $0.16 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $130.2 million versus the consensus estimate of $129.59 million.

GUIDANCE:

Shutterstock sees FY2017 revenue of $545-560 million, versus the consensus of $550.89 million.

FINANCIAL OUTLOOK

The Company's current expectations for the full year 2017 are as follows:

• Revenue of $545-560 million
• Income from Operations of $47-52 million
• Adjusted EBITDA of $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

First Quarter 2017 highlights as compared to First Quarter 2016:

Financial Highlights

• Revenue increased 12% to $130.2 million
• Income from operations decreased 5% to $10.3 million
• Net income increased 8% to $6.6 million
• Adjusted EBITDA decreased 3% to $23.2 million
• Diluted EPS increased 12% to $0.19 per share

Key Operating Metrics

• Paid downloads increased 6%
• Revenue per download increased 5%
• Image collection expanded 63% to 132.0 million images
• Video collection expanded 64% to 6.9 million clips

For earnings history and earnings-related data on Shutterstock (SSTK) click here.

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