Latest News by Industry
NEW YORK (AP) — NEW YORK (AP) — Shutterstock Inc. (SSTK) on Tuesday reported first-quarter net income of $32.8 million.
On a per-share basis, the New York-based company said it had net income of 90 cents. Earnings, adjusted for one-time gains and costs, came to $1.29 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The online marketplace for royalty-free images and videos posted revenue of $215.3 million in the period.
Shutterstock expects full-year earnings in the range of $4 to $4.10 per share, with revenue in the range of $844 million to $853 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a SSTK">Zacks stock report on SSTK at https://www.zacks.com/ap/SSTK