Shutterstock Q2 revenue up 1% to $208.8M; raises FY2023 guidance on top and bottom line

Shutterstock, Inc.

2023-Q2 EPS reported $2.27 revenue$424,120,000

Net income $50.0M (diluted EPS $1.37) vs $19.4M in Q2 2022; includes $41.9M bargain purchase gain from GIPHY.
Adjusted EBITDA $60.1M (+23% YoY); margin 28.8% vs 23.7%.
Full year 2023 guidance raised: revenue $852-869M (3-5% growth); adj. EBITDA $227-235M; adj. EPS $4.00-4.17.
Enterprise revenue up 22% to $96.9M, driven by $17.3M from computer vision data partnerships (vs $2.2M).
Quarterly cash dividend declared $0.27 per share, payable Sept 14, record Aug 31.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Shutterstock, Inc. reported second quarter ended June 30, 2023 results: revenue $208.8 million, net income $50.0 million, EPS $1.37. Guidance raised.

Period: second quarter ended June 30, 2023
Revenue: $208.8 million
Net income: $50.0 million
EPS: $1.37
Guidance: raised
Result: reported results

Exact text from the filing

Revenue increased 1% to $208.8 million. • Income from operations decreased 66% to $8.7 million. • Net income increased 157% to $50.0 million. • Adjusted EBITDA increased 23% to $60.1 million. • Net income per diluted share increased $0.84 to $1.37.

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Source: SEC EDGAR

accession 0001549346-23-000032

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