01:02 PM EDT, 05/02/2024 (MT Newswires) -- Shutterstock ( SSTK ) reported Q1 adjusted earnings Thursday of $1.13 per diluted share, compared with $1.29 a year earlier.

Analysts surveyed by Capital IQ expected $0.99.

Revenue for the quarter ended March 31 was $214.3 million, compared with $215.3 million a year earlier. Analysts surveyed by Capital IQ expected $208.5 million.

For the full-year 2024, the company said it expects adjusted EPS of $4.18 to $4.32 on revenue of $923 million to $936 million. Four analysts surveyed by Capital IQ are expecting adjusted EPS of $3.90, while six analysts are forecasting revenue of $873.1 million.

The company also said Thursday that it has agreed to acquire Envato, a provider of digital creative assets, tools and templates, for $245 million. The deal is expected to close in Q3.

Shares of Shutterstock ( SSTK ) were down about 2% in recent trading.

Price: 41.60, Change: -0.84, Percent Change: -1.99