Shutterfly tops 3Q net income expectations, misses revenue forecasts
Shutterfly Inc. (SFLY) on Wednesday reported a loss of $46.2 million in its third quarter.
The Redwood City, California-based company said it had a loss of $1.20 per share. Losses, adjusted for one-time gains and costs, were $1.12 per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of $1.16 per share.
The online photo company posted revenue of $142 million in the period, which fell short of Street forecasts. Analysts expected $143.6 million, according to Zacks.
For the current quarter ending in December, Shutterfly expects its per-share earnings to range from $2.42 to $2.67. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.62.
The company said it expects revenue in the range of $466.7 million to $481.7 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $478.5 million.
Shutterfly expects full-year results to range from a loss of 7 cents per share to earnings of 20 cents per share, with revenue ranging from $905 million to $920 million.
Shutterfly shares have decreased 19 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $41.17, a decrease of 21 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. SFLY stock research report from Zacks.