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Tuesday, August 6, 2019

=Shutterstock (SSTK) reported earnings on Tue 6 Aug 2019 (b/o)

Shutterstock beats by $0.02, misses on revs; guides FY19 revs below consensus

  • Reports Q2 (Jun) earnings of $0.33 per share, excluding non-recurring items, $0.02 better thanthe S&P Capital IQ Consensus of $0.31; revenues rose 3.3% year/year to $161.74 mln vs the $171.93 mln S&P Capital IQ Consensus.
  • Co issues downside guidancefor FY19, sees FY19 revs of $645-670 mln vs. $687.23 mln S&P Capital IQ Consensus and vs prior guidance of $685-695 mln.
  • "This quarter we continued to see demand from our customers around the globe...However, we recognize that there is room for improvement in our Enterprise sales channel and, in the near-term, have revised our outlook for the year as our team develops strategies to reaccelerate growth."
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