CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Shutterstock Q3 revenue falls 33% on weak new customer additions

By Reuters News


Overview

  • Creative content platform's Q3 revenue fell 33% yr/yr due to weakness in core segments

  • Adjusted EPS for Q3 declined yr/yr as revenue dropped

  • Net loss driven by $195.6 mln goodwill impairment and revenue declines outpacing cost reductions


Outlook

  • Company expects to achieve $60 mln in annualized run-rate operating expense reductions

  • Company sees AI trends creating new opportunities in content and data capabilities

  • Shutterstock says it is focused on operational performance and long-term growth


Result Drivers

  • CONTENT SEGMENT WEAKNESS - Co said lower Content revenue was primarily due to weakness in new customer acquisition

  • DATA LICENSING VOLATILITY - Co attributed sharp drop in Data, Distribution, and Services revenue to deal timing volatility and variable revenue recognition

  • COST REDUCTIONS - Co said it reduced operating expenses and headcount to offset revenue declines


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$173.90 mln

Q3 Adjusted EPS

$0.45

Q3 Net Loss

$197.80 mln

Q3 Adjusted EBITDA

$41.80 mln


Reuters Recommended Reads

  • Nov 4 - Figma's Q3 revenue jumps 43% and beats estimates; raises FY revenue outlook

  • Nov 4 - Klaviyo's Q3 revenue beats estimates; raises FY outlook

  • Nov 4 - ZoomInfo Q3 revenue falls 3%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.