Shutterfly posts bigger second-quarter loss, tops forecast
Shutterfly Inc. (SFLY) on Wednesday reported a wider loss in its second quarter, and beat analysts' expectations.
The Redwood City, California-based company reported a loss of $27.1 million, or 70 cents per share, compared with a loss of $11.8 million, or 31 cents per share, in the same quarter a year ago.
Losses, adjusted for one-time gains and costs, were 63 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 74 cents per share.
The online photo company said revenue rose 19 percent to $159.1 million from $133.5 million in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $157.1 million, according to Zacks.
Shutterfly shares have decreased $3.44, or 6.8 percent, to $47.49 since the beginning of the year. The stock has fallen $6.10, or 11 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full SFLY report: http://www.zacks.com/ap/SFLY