Shutterstock Q2 Profit Rises; Lifts FY13 Revenue Outlook - Quick Facts

(RTTNews) - Shutterstock Inc. (SSTK), a provider of commercial digital imagery, Wednesday reported second-quarter net income to common stock of $6.8 million or $0.20 per share, compared with $4.6 million or $0.22 per share last year.

Excluding items, adjusted earnings for the quarter were $7.8 million, up from $7.5 million in the year-ago quarter. Earnings for the latest second quarter were $0.23 per share, down from $0.27 per share last year.

Revenues for the quarter were up 40% at $56.81 million, compared with $40.63 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.19 per share on revenues of $54.69 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the third quarter, the company expects revenues of $56 million to $57 million, while analysts currently expect $56.08 million.

For fiscal year 2013, the company raised its outlook and now expects revenues of $227 million to $229 million, up from prior guidance of $221 million to $226 million.

Analysts currently estimate revenues of $224.69 million for the year.