Shutterstock: 3Q Earnings Snapshot
NEW YORK (AP) _ Shutterstock Inc. (SSTK) on Tuesday reported third-quarter net income of $4.9 million.
On a per-share basis, the New York-based company said it had net income of 14 cents. Earnings, adjusted for one-time gains and costs, were 29 cents per share.
The online marketplace for royalty-free images and videos posted revenue of $159.1 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $161.9 million.
Shutterstock expects full-year revenue in the range of $645 million to $670 million.
Shutterstock shares have climbed 19% since the beginning of the year. The stock has increased slightly more than 7% in the last 12 months.