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.
The Company is updating its guidance as follows:
Visualization of income flow from segment revenue to net income
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