Shutterstock Inc. (SSTK) reported second quarter non-GAAP EPS of $0.31 Thursday morning, compared to $0.25 a year ago. Revenues increased by $24.1 million to $104.4 million. Analysts expected EPS of $0.30 and revenues of $105.36 million.
The company expects to report third quarter revenue of $105 million to $108 million and full year revenue of $425 million to $430 million. The consensus estimates are for revenues of $113.28 million and $440.71 million.
Shutterstock also announced that Steven Berns will succeed Tim Bixby as its CFO no later than September 30, 2015.
Shutterstock gapped down sharply Thursday and fell in early trade, before settling into a range. The stock finished with a loss of 16.33 at $34.42 on the highest volume of the year. Shutterstock plummeted to a new low for the year.
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