Overview

* Shutterstock ( SSTK ) Q2 revenue rises 21% yr/yr to $267 mln, beating analyst expectations

* Adjusted EPS of $1.19 beats analyst expectations, per LSEG data

* Net income jumps to $29.4 mln from $3.6 mln, driven by Envato acquisition

Outlook

* Shutterstock ( SSTK ) declines to provide financial guidance amid Getty Images merger

Result Drivers

* ENVATO ACQUISITION - Revenue and net income growth driven by the acquisition of Envato, contributing to Content product offering

* DATA DEALS - Revenue from Data, Distribution, and Services increased due to timing of data deal revenue recognition

* INTEREST EXPENSE - Increase in interest expense due to debt for Envato acquisition, partially offsetting gains

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $267 mln $247.40

Revenue mln (3

Analysts

)

Q2 Beat $1.19 $1.15 (2

Adjusted Analysts

EPS )

Q2 Net $29.40

Income mln

Q2 Beat $82.20 $66.70

Adjusted mln mln (3

EBITDA Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the online services peer group is "buy."

* Wall Street's median 12-month price target for Shutterstock Inc ( SSTK ) is $28.85, about 31.3% above its July 28 closing price of $19.81

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)