Shutterstock Reports Second Quarter 2020 Financial Results
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Go back to Shutterstock Reports Second Quarter 2020 Financial Results
July 28, 2020 1:28 PM EDT
Needham & Company analyst Brad Erickson raised the price target on Shutterstock (NYSE: SSTK) to $65.00 (from $50.00) while maintaining a Buy rating.
The analyst commented, "SSTK's business is rebounding off the COVID bottom and consistent with our recent initiation, the company is beginning to show... More
July 28, 2020 7:04 AM EDT
Shutterstock (NYSE: SSTK) reported Q2 EPS of $0.53, $0.27 better than the analyst estimate of $0.26. Revenue for the quarter came in at $159.2 million versus the consensus estimate of $149.99 million.
Second Quarter 2020 highlights compared to Second Quarter 2019:
Key Operating Metrics
Subscribers increased 29%, to 223,000.Subscriber revenue increased 8% to $62.7 million.Average revenue per customer, increased 0.2% to $326.Paid downloads decreased 6% to 44.0 million.Revenue per download increased by $0.17 to $3.61.Image collection expanded 21% to approximately 340 million...
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