Shutterstock misses by $0.03, misses on revs; guides FY17 revs below consensus:
- Reports Q4 (Dec) earnings of $0.42 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus of $0.45; revenues rose 12.2% year/year to $130.17 mln vs the $135.29 mln Capital IQ Consensus.
- FY16 Key Operating Metrics
- Paid downloads increased 14%
- Revenue per download increased 1%
- Image collection expanded 63% to 116.2 million images
- Video collection expanded 68% to 6.2 million clips
- Co issues downside guidance for FY17, sees FY17 revs of $545-560 mln vs. $578.21 mln Capital IQ Consensus Estimate; sees Income from Operations of $47-52 million
- In addition, Shutterstock announced today that Steven Berns, its Chief Financial Officer, has been appointed as Chief Operating Officer effective March 1, 2017. Along with his new responsibility, Mr. Berns will also continue in his role as Chief Financial Officer.
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