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

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.