Shutterstock, Inc. (SSTK), a creative platform, on Tuesday announced that its net income increased in the second quarter compared with the previous year.
For the second quarter, net income increased to $29.44 million from $3.63 million in the previous year.
Earnings per share were $0.82 versus $0.10 last year.
Adjusted net income increased to $42.87 million from $35.90 million in the prior year.
Adjusted earnings per share were $1.19 versus $1 last year.
Two Analysts, on average, had expected the company to report $1.13 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA increased to $82.24 million from $62.07 million in the prior year.
Revenue increased 21 percent to $266.99 million from $220.05 million in the previous year.
In the pre-market trading, Shutterstock is 7.21% higher at $21.25 on the New York Stock Exchange.
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