Shutterfly Shares Plummet On Earnings Miss, Weaker-than-expected Outlook

By Wallace Witkowski Markets MarketWatch Pulse

Shutterfly Inc. shares dropped in the extended session Wednesday after the online photo products retailer missed Wall Street targets for its earnings and outlook. Shutterfly shares fell 14% to $44.36 after hours. The company reported fourth-quarter earnings of $2.63 on revenue of $561.2 million. Analysts surveyed by FactSet had estimated earnings of $2.84 a share on revenue of $584.4 million. For the first quarter, Shutterfly estimated a loss of 95 cents to $1 a share on revenue of $185 million to $190 million, while analysts expect a loss of 84 cents a share on revenue of $199.4 million.

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