Stock photography and footage provider Shutterstock (NYSE:SSTK) will be announcing earnings results this Thursday before market open. Here’s what you need to know.
Shutterstock missed analysts’ revenue expectations last quarter, reporting revenues of $199.2 million, down 17.9% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EBITDA estimates.
Is Shutterstock a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Shutterstock’s revenue to decline 5.1% year on year, a reversal from the 21.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Shutterstock has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Shutterstock’s peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. EverQuote delivered year-on-year revenue growth of 24.6%, beating analysts’ expectations by 2.6%, and Teladoc reported a revenue decline of 4%, falling short of estimates by 1.3%. EverQuote traded down 1% following the results while Teladoc was also down 28.3%.
Read our full analysis of EverQuote’s results here and Teladoc’s results here.
Investors in the consumer internet segment have had steady hands going into earnings, with share prices flat over the last month. Shutterstock is down 32% during the same time.
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