Shutterstock Q2 Adj. Profit Meets Estimate; Lifts FY14 Revenue Range

(RTTNews) - Shutterstock Inc. (SSTK), a provider of commercial digital imagery, Thursday reported second-quarter net income available to common shareholders of $4.9 million or $0.14 per share, compared with $6.8 million or $0.20 per share last year.

Excluding items, adjusted earnings for the latest second quarter were $9.0 million or $0.25 per share, up from $7.8 million or $0.23 per share in the prior year period. On average, six analysts polled by Thomson Reuters estimated earnings of $0.22 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter were $80.24 million, up 41% from $56.81 million in the prior year, while six analysts had a consensus revenue estimate of $77.68 million for the quarter.

Looking ahead to the third quarter, the company expects revenues of $81 million to $83 million, while analysts currently expect revenue of $80.88 million.

For fiscal year 2014, the company now expects revenues of $323 million to $327 million, up from its prior range of $315 million to $320 million. Analysts currently estimate revenues of $319.41 million for the year.