Shutterstock, Inc Q1 Profit Decreases, but beats estimates

(RTTNews) - Shutterstock, Inc (SSTK) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $16.12 million, or $0.45 per share. This compares with $32.84 million, or $0.90 per share, in last year's first quarter.

Excluding items, Shutterstock, Inc reported adjusted earnings of $40.64 million or $1.13 per share for the period.

Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $214.32 million from $215.28 million last year.

Shutterstock, Inc earnings at a glance (GAAP) :

-Earnings (Q1): $16.12 Mln. vs. $32.84 Mln. last year. -EPS (Q1): $0.45 vs. $0.90 last year. -Revenue (Q1): $214.32 Mln vs. $215.28 Mln last year.