UPDATE: Shutterstock (SSTK) Misses Q2 EPS by 12c, Trims FY Outlook

Shutterstock (NYSE: SSTK) reported Q2 EPS of $0.24, $0.12 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $134 million versus the consensus estimate of $137.83 million.

The Company's current expectations for the full year 2017, reduced from those previously announced, are as follows:

• Revenue of $535-545 million, down from $545-560 million
• Income from Operations of $30-40 million, down from $47-52 million
• Adjusted EBITDA of $85-$95 million, down from $105-110 million
• Non-cash equity-based compensation expense of approximately $30 million
• Effective tax rate in mid-30's%
• Capital Expenditures of approximately $45 million, including capitalized labor of approximately $20 million

(Street sees FY Revenue of $552.6 million)

For earnings history and earnings-related data on Shutterstock (SSTK) click here.

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