11:08 AM EDT, 08/09/2024 (MT Newswires) -- Getty Images ( GETY ) swung to a second-quarter profit year over year while the visual content creation company cut its full-year revenue and core profitability outlook.

Revenue is now expected between $924 million and $943 million for 2024, the company said Friday, down from the previous guidance range of $928 million to $947 million. The current consensus among analysts on Capital IQ is for $938.2 million.

Adjusted earnings before interest, taxes, depreciation and amortization are estimated to come in between $290 million to $294 million during the year, compared with the prior forecast of roughly $298 million.

"As we look ahead, we will remain fiscally conservative, continue to invest in the business, and are confident in our ability to return to full-year topline growth in 2024," Chief Financial Officer Jenn Leyden said in a statement.

The stock was down 7.5% in Friday trading.

For the three months through June 30, Getty reported earnings of $0.01 per share, compared with a loss of $0.01 a share last year. Revenue rose 1.5% year over year to $229.1 million, while five analysts surveyed by Capital IQ estimated $228.3 million.

"We returned to growth in the second quarter, with gains across Getty Images ( GETY ), iStock and Unsplash, driven by increased annual subscribers and paid downloads," Chief Executive Craig Peters said.

Creative revenue fell 2.4% from last year to $137.9 million, while editorial revenue rose 4.1% to $83.6 million.

Annual subscription revenue as a percentage of total revenue grew to 52.9% from 51.1% a year ago, the company said. Operating expenses declined to $182.7 million in the quarter from $192.2 million last year.

Price: 2.97, Change: -0.24, Percent Change: -7.48