Shutterstock, Inc Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Shutterstock, Inc (SSTK) released earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $17.6 million, or $0.50 per share. This compares with $28.4 million, or $0.79 per share, in last year's third quarter.

Excluding items, Shutterstock, Inc reported adjusted earnings of $46.4 million or $1.31 per share for the period.

Analysts on average had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.5% to $250.6 million from $233.2 million last year.

Shutterstock, Inc earnings at a glance (GAAP) :

-Earnings (Q3): $17.6 Mln. vs. $28.4 Mln. last year. -EPS (Q3): $0.50 vs. $0.79 last year. -Revenue (Q3): $250.6 Mln vs. $233.2 Mln last year.

-Guidance: Full year EPS guidance: Adj: $4.22 - $4.31 Full year revenue guidance: $935 mln - $940 mln