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Jun 30, 2024
Shutterstock Q2 2024 Earnings Report
Shutterstock's second quarter results exceeded expectations, driven by growth in Data, Distribution and Services and the acquisition of Envato.
Key Takeaways
Shutterstock's second quarter 2024 financial results showed revenue of $220.1 million, a 5% increase compared to the second quarter of 2023. Net income was $3.6 million, a decrease from $50.0 million in the same period last year. The company completed the acquisition of Envato Pty Ltd. on July 22, 2024.
Revenues increased by 5% to $220.1 million compared to the second quarter of 2023.
Net income decreased to $3.6 million compared to $50.0 million in the same period last year.
Data, Distribution, and Services product offering revenue increased by 129% to $50.1 million.
The company completed the acquisition of Envato Pty Ltd. for $250 million on July 22, 2024.
Revenue by Segment
Forward Guidance
The Company is updating its guidance as follows:
Positive Outlook
- Revenue guidance of $927 million to $936 million, representing growth of 6% to 7% year-over-year.
- Adjusted net income per diluted share of between $4.18 to $4.32.
- Adjusted EBITDA of $245 million to $248 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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