Shutterstock, Inc Profit Climbs In Q1

(RTTNews) - Shutterstock, Inc (SSTK) announced earnings for its first quarter that increased from last year

The company's bottom line came in at $18.688 million, or $0.53 per share. This compares with $16.121 million, or $0.45 per share, last year.

Excluding items, Shutterstock, Inc reported adjusted earnings of $36.291 million or $1.03 per share for the period.

The company's revenue for the period rose 13.2% to $242.620 million from $214.315 million last year.

Shutterstock, Inc earnings at a glance (GAAP) :

-Earnings: $18.688 Mln. vs. $16.121 Mln. last year. -EPS: $0.53 vs. $0.45 last year. -Revenue: $242.620 Mln vs. $214.315 Mln last year.

A rise in the first-quarter net profit was supported by profitability associated with the Envato business acquired in July 2024, offset by an increase in interest expense of $3.7 million due to increased debt, which funded the purchase of Envato. Shutterstock also incurred $11.9 million of professional fee expenses in the quarter associated with the proposed merger with Getty Images Holdings, Inc.