Shutterstock Sees 2024 Revenue Of $875M (Est $919.34M) And Adjusted EBITDA Of $241M, Unchanged From 2023; Adjusted EPS Of $4.15-$4.30 (Est $4.18)
Portfolio Pulse from Benzinga Newsdesk
Shutterstock projects its 2024 revenue to be $875M, below the estimated $919.34M, with an adjusted EBITDA of $241M, consistent with 2023. The company anticipates an adjusted EPS of $4.15-$4.30, closely aligning with the estimated $4.18.
February 21, 2024 | 12:14 pm
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Shutterstock expects 2024 revenue to fall short of estimates at $875M, with an adjusted EBITDA of $241M and an EPS of $4.15-$4.30.
Shutterstock's projection of lower-than-expected revenue for 2024 suggests potential challenges in growth or market conditions, likely leading to a negative short-term impact on its stock price. The adjusted EBITDA remaining unchanged indicates operational stability, but the slight miss in revenue forecast could concern investors. The EPS projection closely aligns with estimates, showing some level of earnings stability, but the revenue miss is the primary concern.
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IMPORTANCE 90
RELEVANCE 100