Shutterstock Q3 revenue up 14% to $233.2M; raises FY2023 guidance

Shutterstock, Inc.

2023-Q3 EPS reported $3.06 revenue$657,368,000

Revenue $233.2M (+14% YoY); net income $28.4M (+23%); adjusted EBITDA $64.7M (+15%).
Enterprise revenue +60% to $127.2M (55% of total) driven by $45.5M from computer vision data partnerships.
E-commerce revenue down 15% to $106M; paid downloads fell to 36.4M.
Raised FY2023 guidance: revenue $869-886M, adjusted EBITDA $240-245M, adjusted EPS $4.18-4.30.
Board declared $0.27/share quarterly dividend, payable Dec 14, 2023 to holders of record Nov 30.

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 0.9

Shutterstock, Inc. reported third quarter ended September 30, 2023 results: revenue $233.2 million, net income $28.4 million, EPS $0.79. Guidance raised.

Period: third quarter ended September 30, 2023
Revenue: $233.2 million
Net income: $28.4 million
EPS: $0.79
Guidance: raised
Result: reported results

Exact text from the filing

we are again raising both revenue and EBITDA guidance for 2023.” Third Quarter 2023 highlights as compared to third quarter 2022: Financial Highlights • Revenue increased 14% to $233.2 million. • Income from operations decreased 40% to $17.2 million. • Net income increased 23% to $28.4 million. • Adjusted EBITDA increased 15% to $64.7 million. • Net income per diluted

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Source: SEC EDGAR

accession 0001549346-23-000041

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